WEALTHTRACK The Historic Financial Consequences of Trump’s Tariff Policies Tsunami
11 snips
Apr 25, 2025 AI Snips
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Tariffs as Global Shock
- Trump's tariffs dismantled the post-war international trade system based on most favored nation principles.
- His reciprocal tariffs with different countries have caused global economic anxiety and market ripple effects.
Misunderstanding Trade Deficits
- Bilateral trade deficits do not indicate cheating but natural differences in economic strengths and needs.
- Trying to enforce equal trade balances would reduce trade efficiency and revert to a barter system.
Roots of Manufacturing Decline
- The major job losses in US manufacturing started when China joined WTO around 2000, flooding markets with cheaper goods.
- Trump's tariffs aimed at China had legitimate grounds but the broad approach on all countries was misguided.