No arguments there. I certainly expect tariffs will lead to inflation getting much worse.
View the tariffs as carbon tax that represent the true cost of goods being produced in a coal heavy country and transported on boats that burn the most dirty kind of oil possible. It makes the whole thing look quite nicer and the economic cost a bit more worth it.
The per-ton CO2 emissions of those boats is still much, much lower than by truck or rail. Large ships are insanely efficient at moving cargo; that's why it's so economical to transport stuff across the planet.
Isn't the question, a/ travels across the globe + rails and truck vs b/ maybe rails + truck ?
Not arguing that the carbon tax is legit. It hasn't been proven yet that it isn't just a way to collect money while pretending to do something about the environment.
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If it hits major economic metrics in a way that makes him nervous, watch out for what he might do to the Fed. So long to a relatively-depoliticized institution. He was already grumbling about them in 2020. Hell he might just lead with politicizing the Fed. Guess we’ll see.
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