
Everybody's Business: Tariffs, TikTok, Torpedos
Elon, Inc.
The Economic Ripple of Tariffs
This chapter examines the negative consequences of large-scale protective tariffs on the economy, emphasizing their role as an import tax that raises consumer prices and stifles growth. It discusses the mixed reactions in the stock market following a significant tariff announcement by Trump, alongside skepticism from business leaders regarding the lasting impact of such policies. The conversation balances concerns over economic contraction with potential silver linings amid the changing landscape of trade and tariffs.
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