economic view?
the worst presidential
decision ever
Adapted from The Conversation between Gail Collins and Bret Stephens, Opinion columnists for the New York Times. They converse every week.
Gail Collins: OK, Bret, I know you can’t tell the future, but give me a prediction. Will President Trump’s tariffs go down as one of the 100 worst decisions in presidential history? 50? 10?
Bret Stephens: As an economic matter, possibly the worst presidential decision ever. Say what you will about Herbert Hoover, but he was an honorable public servant who didn’t have the benefit of hindsight when he signed the Smoot-Hawley tariff into law in 1930. As a foreign policy matter, it’s at least in the top five worst. It’ll be a few months before we see the full consequences in terms of reciprocal tariffs, broken alliances, destroyed trust and an America that has dethroned itself from global economic leadership. And don’t be surprised if it leads to war, as global economic upheavals often do.
Other than that, Gail, it was a great week. Like millions of other Americans, I barely noticed losing a big chunk of my net worth. Can’t wait for all the price increases to kick in.
I have to the point out that Mr. Stephens is a conservative and one time republican and someone who tries to see the best in anything the current president tries to do.
No Haiku For You 