Thanks, ~econ buds. You've given me new ammo for how I can talk about tariffs.

It's very hard to effectively retaliate against. That's one of the nice things about an enormous trade deficit, Trump has the leverage.

Undisciplined

 geopolitical art-of-the-deal type negotiation tactics 

 optimal tariff theory (=U.S. being such a large buyer of goods that reduction in demand lowers world market price), and tariffs are starting to look like efficient freakin policy

econ

Maybe An "External Revenue Service" Isn't That Bad of an Idea (TDE, Will Luther)

denlillaapan

good good good. 

That, _plus_ geopolitical art-of-the-deal type negotiation tactics _plus_ optimal tariff theory (=U.S. being such a large buyer of goods that reduction in demand lowers world market price), and tariffs are starting to look like efficient freakin policy