A drug can be effective but not safe, or not worth the cost of its side effects. There are much gentler, much smarter ways to bring the US trade account towards balance, if that’s what we want to do. I favor “capital account protectionism”. interfluidity.com/v2/540.html

But I think it’s a step too far to say we know tariffs wouldn’t narrow the trade deficit. Sure, they might not. But there are perfectly credible ways they might just.

They are still not a great idea. /fin