Paul Krugman on the ‘Biggest Trade Shock in History’
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From New York Times opinion. This is the Ezra Klein Show. Mm.
Scale of one to ten. How liberated are you feeling? Because we just had Donald Trump's big day of liberation, where he announced a huge package of tariffs. Larger by far than markets were expecting, which led markets to lose a lot of value in the hours right after. They were also more confusing than people were expecting.
He had suggested in the campaign a flat tariff of 10 to 20 percent on all imported goods, maybe something bigger on China. But this was very different, different numbers for basically every country. Then there was a column listing the tariffs that they had on us, and that column was simply wrong. So what is going on here? Why is Donald Trump absorbing this much economic pain? Why is he risking
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