knew the story of tariffs. It was Economics 101.
Because retaliatory tariffs and “carrot-and-stick” tariffs are a different animal. If you charge me 80% tariffs and I charge you 0% tariffs, I am getting my clock cleaned, no matter how much I value unrestricted trade!
We need to re-think things a bit. Sure, in the situation where neither side charges tariffs, it is best. But that is not the world we live in. I should not let my love of free trade hide the fact that other countries might be robbing me blind.
And always remember, when countries have offered to drop their tariffs, Trump has responded in kind. Indeed, no tariffs would be best, but that is not something that can be wisely done unilaterally.