@goldbear, your analysis of the whole tariff debate is also woefully inadequate.
There's no argument that tariffs are destructive, but the question is how do you deal with a trading partner that will not trade fairly and does whatever it takes (free land, low rent, low wages, poor working conditions, access to cheap loans, tax breaks, ignoring environmental issues, technology theft, sabotage etc etc etc) to ensure they can be the most price competitive in every industry and basically destroy the manufacturing industry in every developed economy (thereby damaging the middle class, causing a deficiency of demand in those economies, prompting central banks to lower rates and governments to deficit spend, blowing property and share market bubbles, sowing the seeds of a global financial crises, providing the excuse for QE 1,2,3...., introducing the insane idea of modern monetary theory, taking us to the "zero bound" yadda, yadda, yadda).
Well, every % of tariff eats away at that unfair competitiveness and yes there are a range of consequences and adjustments that need to be made, including a reversal of the lower prices that we have enjoyed in the short term.
This is a negotiation and calling it "dumb economics" and a populist ploy to get votes tells me that your command of macroeconomics and geo-politics is woefully deficient.
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