“Above all, don’t renege on free trade.” This would be the advice given by those closest to Trump. Once we raise tariffs then other countries will retaliate by raising theirs. American customers will have to pay more for many of their purchases. The world economy might sink in a deflationary spiral.”
It would be America’s 1930s Depression all over again. The robotization of future jobs is far more costly to those on low incomes than exporting their jobs elsewhere. The cost of the latter soon catch up anyway.