@kentwillard I’m continually astonished by how little understanding there is of how little Trump’s trade restrictionism actually accomplished, and how counterproductively he focused on balance without paying attention to sectoral composition, as if selling soybeans can compensate for losing capabilities in manufacturing. 1/

@kentwillard I agree re autos. “Chicken tax” and CAFE standards were not intended as industrial policy, but their effect has been terrible industrial policy, cautionary tales more than proofs of concept. /fin