Savor the Debate

Billionaires and Herbert Hoover guide American economic policy

I have opined on several occasions that Trump does not fundamentally understand trade. Trump’s retaliatory tariffs were based on a simple formula: a country’s trade deficit, divided by the country’s exports to the United States. That’s such folly that he would not pass a first year collegiate exam on the subject. Because he is surrounded by people who cannot challenge him, including Republicans in Congress, it makes it improbable that his elementary understanding of a complex issue can be changed.