As I've been saying now for a year, Trump's tariffs - good summary below from CRS (fas.org/sgp/crs/row/R4…) - have so far been dumb, ineffective and painful (a little for everyone & a LOT for some) /1
So this has clearly been dumb/bad policy thus far /3
Or that new Krugman column: /9
(leaving aside the long-term problems)
So maybe this all stays contained & the pain, while real and significant (far moreso than last year), remains manageable.
But maybe not? /11
But I'm not holding my breath either.
Buckle up. /x