Great piece and yes the orange man does know what he is doing. Developing a piece of real estate in NYC requires negotiation with a slew of criminals and politicians (maybe really one and the same). He knows the “others” have more to lose than the US. The poker hand is delt, and the others look at the cards and fold. In the long run it will be good for the average consumer. The problem will be, those in the US that are harmed, yield a lot of political and economic power. Can it be sustained?
Seems a reasonable argument. My concern—aside from tariffs—is how to support strategic industries within the US. For example, I have a hard time wrapping my head around a country which imports the overwhelming amount of its steel and aluminum from abroad.
Great deep dive. Thanks for taking the time to write this.
Thanks for reading! Would love if you shared it 🤝🏼
Great piece and yes the orange man does know what he is doing. Developing a piece of real estate in NYC requires negotiation with a slew of criminals and politicians (maybe really one and the same). He knows the “others” have more to lose than the US. The poker hand is delt, and the others look at the cards and fold. In the long run it will be good for the average consumer. The problem will be, those in the US that are harmed, yield a lot of political and economic power. Can it be sustained?
We shall see 🤝🏼
Seems a reasonable argument. My concern—aside from tariffs—is how to support strategic industries within the US. For example, I have a hard time wrapping my head around a country which imports the overwhelming amount of its steel and aluminum from abroad.
100%, strategic industries should be protected like energy, steel, rare earth minerals, etc
Read this first.
https://open.substack.com/pub/paulkrugman/p/more-than-you-wanted-to-know-about