It's clear that there was no reasoned thought behind the tariff push. Tariffs can work if implemented in a principled way and coupled with a complementary industrial policy to develop critical sectors of the economy.
Instead, we had a completely chaotic implementation of tariffs which seemed to be completely at the whim of Trump with zero supportive industrial policy. So much so that the term 'Taco' https://en.wikipedia.org/wiki/Trump_Always_Chickens_Out was coined to describe Trump's approach.
The charitable explanation is that Trump had no plan and was making it up as he went along. The less charitable explanation is that the chaos was an intentional feature to enable a quid pro quo of favourable policy in exchange for under the table payments via crypto or 'investments' in his family's various businesses.
When you couple completely illegal application of a supposed 'emergency' to invoke tariffs with a chaotic, whim based implementation, is there any wonder that they failed?
Instead, we had a completely chaotic implementation of tariffs which seemed to be completely at the whim of Trump with zero supportive industrial policy. So much so that the term 'Taco' https://en.wikipedia.org/wiki/Trump_Always_Chickens_Out was coined to describe Trump's approach.
The charitable explanation is that Trump had no plan and was making it up as he went along. The less charitable explanation is that the chaos was an intentional feature to enable a quid pro quo of favourable policy in exchange for under the table payments via crypto or 'investments' in his family's various businesses.
When you couple completely illegal application of a supposed 'emergency' to invoke tariffs with a chaotic, whim based implementation, is there any wonder that they failed?