The problem with Trump’s trade policies is that they can’t be viewed in a vacuum. Together with the debt and the failure to solve other problems, there is no broader economic vision. In today’s long and in-depth show, I explain when tariffs are appropriate and when not. Most of what ails us is due to other economic and domestic policies, and absent a fix for those problems, higher tariffs will not result in more revenue, more onshoring, and more jobs. I also discuss the balance of trade deficits, onshoring, and tariffs and how they intersect with other policies. We go through five often muddled and conflicting objectives being proffered by Trump administration officials and how each one is built upon a false choice or downright false data. Finally, I discuss why it’s indefensible to be hawkish on trade but dovish on foreign labor and weak on debt policy.

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