I REALLY like a lot about Trump and his potential to rip up huge portions of the entrenched system, but this is worrisome.
Markets need stability, and Trump seems to think its ok to make up his own rules (e.g. fining a factory for overseas manufacturing, or slapping on international trade tarrifs).
Deals happen within a rule framework. He needs to understand the impact of changing the rules and the difference between the framework and the deal.
He clearly knows how to hire and trust good people. I hope he’ll hire some good Austrian economists.
Don't expect much sympathy for that view here on FR. I too have voiced the idea that Trump is too smart not to get some some good Austrian Advice on the subject of trade and tariffs. But I'm not certain that he actually will.
When it comes to trade policy in particular there isn't a dimes worth of difference between Trump and Bernie Sanders. That fact is conveniently overlooked here on FR.
Trump is wrong about the value of tariffs. Taxing the American people for buying foreign goods will hurt the economy in the both short run and the long run. Trump had better figure that out or we are going to be in big trouble when he is elected in November (as I expect he will be).
Obviously he will follow law. Nothing he did otherwise would stand.
He is saying he will push for changes to allow his policies. Really.