Hey, Walter, I majored in Economics in college, and have studied the field for my entire adult life. I am very well aware of what free market textbooks and doctrine are regarding tariffs. Put simply: “Tariffs = Bad.”
However, like many academics, you have failed to step back from looking intently at a few trees so that you can look at the entire forest - and thereby obtain a better view of what is really going on.
Donald Trump understands economics - well. If he didn’t, he wouldn’t have turned a $1 million loan into a multi-billion dollar fortune. But he also understands looking at the big picture - again, well.
The big picture is that we are on the losing side of a trade war with much of the rest of the world - mainly because people like you have (in good faith) pressured our government into NOT fighting such a trade war. Well, what happens when only one side fights a war? The other side loses, EVERY SINGLE TIME. Well, Donald Trump decided that this was/is unacceptable, mainly because it is incredibly naive and simply isn’t working for this country. He is imposing tariffs in order to force the other side to the negotiating table. It is similar to Nixon bombing the crap out of Hanoi and Haiphong Harbor in late 1972 - you wouldn’t ordinarily do so, but inflicting pain on someone that you want to negotiate with is a great way to get him to the table, and also to get him to make some concessions to you because he wants you to stop inflicting pain upon him.
Walter, this is a NEGOTIATING TACTIC. Be assured that Donald Trump knows a thing or two about how to successfully negotiate with those whose interests are diametrically opposed to his own. His goal is not to have tariffs, or a protectionist policy, it is to get the OTHER NATIONS to reduce or eliminate THEIR tariffs.
Really, this is not all that complicated. Why otherwise intelligent people don’t get it is beyond me. Maybe it is because they don’t live in the real world of making money (or going broke if you don’t do that well).
I don't know about that. Trump has never stated that ever but if I am wrong post a reference.
Hopefully the tariffs will be permanent. The income raised can be used to reduce the debt and lower income tax rates. Tariffs are superior to income taxes, actually all consumption based taxes are in that regard. The old Republican Party, pre WWII was all about the tariff and rightly so.