Analysis assumes constant tariffs. Trump has sown chaos by altering tariffs on a whim, and that messes up the economy worse than predictably high tariffs. Busi

Analysis assumes constant tariffs. Trump has sown chaos by altering tariffs on a whim, and that messes up the economy worse than predictably high tariffs. Businesses can function under high tariffs, but if tariffs change and there is constant uncertainty, low-margin businesses can make profits only by accident.