[finnbow]

Originally Posted by Chicks

More economic ignorance from Donny & Co.

https://finance.yahoo.com/news/econo...162159427.html

“This is a clear demonstration that the Trump administration does not understand trade economics,” said Bernard Baumohl, managing director and chief global economist at the Economic Outlook Group, in a phone interview. “These tariffs when they’ve been imposed in the past have done more harm than good. The problem is that politicians have an ahistorical memory that goes back sometimes to breakfast.”

“Markets are responding to the very real economic damage to large sectors of the economy that the tariffs will cause,” said Brad McMillan, chief investment officer for Commonwealth Financial Network, which manages $156 billion in assets. “This is a rational response, based on clear economic factors.”

https://www.washingtonpost.com/news/...f-a-trade-war/