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More tariff hermeneutics. Trump is not well, and he's never been economically literate, and he does not care about the USA as a whole. Nothing more to it than t

• walterbell 2y ago
  Stephen Miran (chair of Council of Economic Advisers) has a 40-page paper on tariffs, https://news.ycombinator.com/item?id=43589350 https://news.ycombinator.com/item?id=43589350 https://financialpost.com/news/stephen-miran-economist-trump-economic-advisory-team https://financialpost.com/news/stephen-miran-economist-trump... > Currently a senior strategist at Hudson Bay Capital Management LP and a fellow at the Manhattan Institute in New York City, Miran holds a PhD in economics from Harvard University and his dissertation advisor was Martin Feldstein, an eminent American economist who chaired the CEA during the Reagan administration. > Miran.. points to Trump’s application of tariffs on China in 2018-2019, which he argues “passed with little discernible macroeconomic consequence.” He adds that during that time the U.S. dollar rose to offset the macroeconomic impact of the tariffs and resulted in significant revenue for the U.S. Treasury.. “The effective tariff rate on Chinese imports increased by 17.9 percentage points from the start of the trade war in 2018 to the maximum tariff rate in 2019,” the report said. “As the financial markets digested the news, the Chinese renminbi depreciated against the dollar over this period by 13.7 per cent, so that the after-tariff USD import price rose by 4.1 per cent.”