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rish
@rish
Democrats and Republicans fully differ on whether Trump’s tariff policies help or harm the economy if implemented like he says Anyone with good, informed takes on this?
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will
@w
generally think scott sumner is on point w economics idk his best piece on the topic but found this one relatively easily: https://www.econlib.org/tariffs-are-taxes-on-trade/
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will
@w
one thing he mentions but i think glosses over: the trade + financial accounts clear, axiomatically. For the US, that means a huge trade deficit and a corresponding financial surplus -- people want US financial assets! to the extent tariffs decrease the trade deficit, they will also decrease the financial surplus (e.g. fewer foreigners buying our dollars and assets, perhaps bc the dollar strengthens but could happen a number of ways i suppose). this is [probably] bad for our "modern" exports: finance, tech at least that's my understanding
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