Bulwark Takes
Trump’s Tariff Plan Is a Math Disaster
Apr 7, 2025
Stan Veuger, a senior fellow and economist at the American Enterprise Institute, unpacks the disastrous math behind Trump's tariff plan. He reveals how this flawed formula is crashing markets and elevating inflation. The discussion critiques the mistaken justifications for tariffs and the negative impacts on American manufacturing. Veuger also dives into the complexities of domestic production and the challenges of reviving STEM jobs against a backdrop of international supply chains. Ultimately, he highlights the reckless miscalculations driving these economic policies.
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Quick takeaways
- Trump's tariff plan is flawed due to a bogus formula, leading to economic instability and rising prices amidst declining activity.
- The reliance on outdated manufacturing beliefs ignores today's job market realities, with minimal job growth expected from these tariffs.
Deep dives
The Impact of Current Tariff Policies
The recent tariff policies are considered stagflationary, meaning they lead to both rising prices and a decline in economic activity. The mechanical effects of tariffs increase product prices while also acting as a massive tax hike that disrupts supply chains. This combination is exacerbated by the administration's focus on tariffs, which is viewed as a self-inflicted economic consequence. Such measures are linked to a strategy that lacks logical justification and only contributes to economic instability.
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