THE TRUTH ABOUT TRADE DEFICITS. (HINT: THE POTUS HAS NO CLUE HOW INTERNATIONAL TRADE WORKS.) THE REAL TRUTH AIN’T SO BAD.
The Author Rob will not belabor the foolishness of a nonsensical trade war with our trading partners. (Just as the Author writes this newsletter, China announces the imposition of 3 billion in tariffs on 128US products, including pork and meat.*) All the Author can add is that the executive branch should never be invested with enough power to unilaterally approve and pursue trade policies that Congress has not specifically approved. As cliché as this is, the Founding Fathers would roll over in their graves if they could see how the executive branch has usurped power from the legislature. But that is a topic for books and on other other days.