As a dean, it is heartbreaking when foreign students ask if they are safe studying here.
As an economist, I worry about the effects on our great country. My latest
Previous studies that find US importers paid tariffs treat trade flows symmetrically. Once the country-product trade flows are weighted by economic importance – or restricted to the dominant exporters of the most important products – a very different picture emerges.
Diversification is hard. China controls a large share of global supply and US controls a large share of global demand. Other countries want to replace China in production--not so much in consumption, despite consumption being the ultimate goal.
I’m against tariffs—a trade war would be terrible—but exaggerating their dangers could backfire. The biggest risk from raising tariffs has (so far) been dodged.