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Commentary: What the World Got Wrong About Tariffs
- On Monday, Aaron Klein, a senior fellow at the Brookings Institution, criticized President Trump's tariff strategy, citing the Yale Budget Lab's projection of a half-percent economic slowdown this year.
- Against the backdrop of rising deficits, his tariffs act as a tax on American consumers, aiming to offset revenue losses from massive tax cuts.
- On July 19, U.S. jobless claims fell by 4,000 to a three-month low, according to the U.S. Census Bureau, despite tariff concerns.
- Despite looming tariffs scheduled for August 1, Aaron Klein remained skeptical, saying, `I don't think we're going to see the world turned upside down on August 1st`.
- Amid renewed tariff debate, U.S. retail sales rebounded 0.6% in June, despite concerns about tariffs slowing the economy, and President Trump secured trade deals with the European Union, Japan, and the Philippines.
13 Articles
13 Articles
Ex-Treasury official warns Trump’s strategy will 'slow the economy'
Aaron Klein, former Deputy Assistant Secretary at the U.S. Treasury Department and now a senior fellow at the Brookings Institution, strongly criticized President Donald Trump’s tariff strategy during a CNN interview on Monday.Discussing the administration’s approach with tariffs, Klein stated that “Trump is reprising his playbook, which is to promise massive tariffs and then cut a deal so that there tariffs are just not as large as he had threa…
On July 9th, the ninety-day deadline passed for the imposition of tariffs that Trump decided to impose on the entire world after his great Independence Day, in early April. However, the tariffs did not take effect then as planned. As is the case with most decisions made by the most powerful man in the world these days, there is nothing to...
Trump Tariffs Are Already Stunting World Growth
I’m Malcolm Scott, international economics editor in Sydney. Today, we look at Shawn Donnan’s reporting on the economic drag from Trump’s tariff campaign. Send us feedback and tips to ecodaily@bloomberg.net. And if you aren’t yet signed up to receive this newsletter, you can do so here.
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- 50% of the sources lean Left
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