Customs Duties and Estimates of Economists

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When President Donald Trump imposed huge import customs duties last April, the current in the economic community and the top forecasters of Wall Street agreed on one point, namely, that those charges would lead to inflationary stagnation at best, or to a deep recession at its worst, while the stock market would collapse. It seemed as if life would turn into a post-end-of-the-world series where survivors would fight to obtain the remaining goods …