Tornado Alley (PROG)

[longrider51]

Look beyond the headline to understand what funds this folly...a huge household wealth transfer!

Largely confirming what other economic models have predicted, the CBO's estimations show that the tradeoff for a $2.8 trillion deficit reduction over 10 years would be an overall reduction in household wealth. In addition, the tariffs would shrink the economy, or reduce the rate of the gross domestic product by 0.06 percentage points per year.

The Penn-Wharton Budget Model's April report predicted that the Republican president’s tariffs would reduce long-run GDP by about 6% and wages by 5%.

OUCH!

Summary: Reverse Robin Hood Economics, take from the poor, give to the rich.

https://www.yahoo.com/news/trumps-tariffs-cut-us-deficits-180210128.html