The US has a $22T economy. Of the $22T only $3.5T is involved with trade. 84% of the US economy has nothing to do with rest of the world. We will be fine.
True, but we need to fast track build out for critical items (medications and so forth). If I were Pres. Trump, I’d start that rolling asap.
Losing one-third of that 16% in international trade means corporate top-line reduction of 5% and probably worse earnings reductions. That means a big drop in equities markets and reduction of spending on construction, capital equipment, vacations, etc. That’s nothing to sneeze at.
Though I generally agree, where it gets sticky is when only 2% of a finished product is imported, if that 2% doesn’t show up, and the parts are critical, the entire “mostly finished” products sits in a warehouse or parking lot waiting...And if it’s a deeply internal part, nothing is built and all the parts sit on the shelf waiting.
But yeah, I generally agree.