The tariffs are generally hated by business, liked by some unions. Since Trump doesn’t get union support, it can’t be any normal kind of crony capitalist deal. Ignorant economics— no doubt. Brilliant tactics? The idea is that there is no other way to bring other countries to the bargaining table. They like present arrangements and would otherwise just try to stall while making soothing statements in the hope that Trump loses Congress and does not get re-elected.
Prominent investor Ken Fisher says it is tactical and also that it is all too small to matter much economically. His math on the latter point is interesting. He candidly says that nobody knows whether Trump will win or lose this poker game and he is right about that.
(From The USA Today)
First he prodded China into prodding North Korea. Now he is crow-barring the E.U. toward eliminating tariffs altogether … and going after Iran next.