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“I wanted to understand what it’s really trying to solve, what’s at stake, and why this direction—however controversial—is being pursued.”
This seems to be much more thought than the current administration has done. You missed the main feature of this administration, in that tariffs is the one tool that the president can unilaterally weild without getting congress involved. A normal administration would have stated a policy goal and then gotten the entire government to work together to those ends. You are still making the mistake that this is a normal administration. While you make great points, your flawed assumptions make everything else you’ve written nearly meaningless.
+1
A great article!
Pete, you may be a great financial planner but you are certainly not an economist who has studied trade and manufacturing. I suggest you read Professor Hicks’ column in today’s Star. (Link not included because IBJ’s comment system doesn’t like them.)
The money quote: “The GOP is vacillating between contradictory claims that President Trump’s tariffs are either negotiating tactics designed to end tariffs everywhere or a long-term strategy to onshore U.S. manufacturing. We have no evidence that either approach has worked anytime, anywhere in the past 250 years.”
Based on facts and data, Hicks says the impact of the tariffs in 12-24 months will be…a recession in Indiana.
Thanks for your comment, Chris. I never suggested I agree with the tariffs, in fact I don’t think it’s a good strategy. Instead, I chose to try to adopt the thinking of someone in support of the tariffs, and then communicate their point more clearly. The point of this week’s column was to take something I don’t agree with, and try to consider WHY someone might support it, and how to better message that idea. – Pete
But you are right, I’m definitely not an economist.
Pete, thanks for the response. I get it…trying to see both sides is a lost skill today. But that assumes there isn’t a time-proven wrong side of a question. This is simply not a matter of differing opinions…it’s a matter of facts vs. fantasy.
I could make an argument with you that your clients are better off investing in Ponzi schemes because the returns are so much better. But that is absolute fantasy also.