Source: Bet On It
by Bryan Caplan
“Donald Trump likes exports and foreign investment, and laments imports and trade deficits. Most economists find this a baffling bundle of preferences — and the more they know about international trade, the more baffled they are. Never mind the truism that the whole point of exports is to buy imports. Doesn’t Trump know that getting more foreign investment raises trade deficits by definition? How confused can you get? While I agree that Trump is terribly wrong about international trade, there’s a big difference between being wrong and being confused. While I doubt I’m ready to pass an Ideological Turing Test for Trumpian trade theory, I recently had a weird epiphany on the topic. After said epiphany, I feel capable of articulating roughly what Trump is thinking.” (03/10/26)
https://www.betonit.ai/p/i-think-i-can-explain-trumps-theory