Once you look past the media nonsense about J.D. Vance and Trump’s exquisite trolling, you can make out the possibility of a truly fundamental debate about economic policy, and especially tax policy. Trump’s general proposal for instituting more tariffs on foreign trade makes me nervous, as I think the general case for free trade remains as strong as it ever has. Predatory nations like China are a special case, and my guess is that in Trump II we may see a reversal of the rhetoric and practice of the Reagan era. Reagan talked a big free trade game, but practiced selective protectionism (through tariffs) frequently, though usually under political necessity to stave off something worse. Maybe Trump will roar about trade, but only apply tariffs selectively? We’ll just have to see what happens.
Meanwhile, I expect Democrats will attack Trump for risking a trade war, but guess what mom?
