Justin Wolfers

Wir haben aufgehört. Ich meine, wir könnten bis zu infinitiv Prozent gehen, aber was ist der Punkt? This causes huge economic disruption in both countries. Because basically, any company that uses any input from China is being told, you're not getting it. That's what a 145% tariff is. And the Chinese have the same problem to a slightly lesser extent. So this is sort of like COVID, right?

Remember COVID, suddenly you couldn't get stuff. Right. So we have now a White House-caused COVID supply shock. It's bad for both countries. So they decide that what they'll do is negotiate. Now it turns out the most punishing thing was that the White House was imposing a 145% tax on Americans who imported from China. You don't need to go to Geneva to cut taxes on Americans.

Remember COVID, suddenly you couldn't get stuff. Right. So we have now a White House-caused COVID supply shock. It's bad for both countries. So they decide that what they'll do is negotiate. Now it turns out the most punishing thing was that the White House was imposing a 145% tax on Americans who imported from China. You don't need to go to Geneva to cut taxes on Americans.

Remember COVID, suddenly you couldn't get stuff. Right. So we have now a White House-caused COVID supply shock. It's bad for both countries. So they decide that what they'll do is negotiate. Now it turns out the most punishing thing was that the White House was imposing a 145% tax on Americans who imported from China. You don't need to go to Geneva to cut taxes on Americans.

You can do that from the comfort of your own home. Maybe you need to go there for political cover. So we all go over to Geneva. Und jetzt Tarifen auf China. Der Tarifhike von Trump auf China ist bis zu 30%. Wir hatten eigentlich 8% von Trump, Biden und der Geschichte vorher. Also jetzt ist der übrige Tarif auf China 38%, was in jeder anderen Ära, wie wir es sagen würden, unglaublich hoch ist.

You can do that from the comfort of your own home. Maybe you need to go there for political cover. So we all go over to Geneva. Und jetzt Tarifen auf China. Der Tarifhike von Trump auf China ist bis zu 30%. Wir hatten eigentlich 8% von Trump, Biden und der Geschichte vorher. Also jetzt ist der übrige Tarif auf China 38%, was in jeder anderen Ära, wie wir es sagen würden, unglaublich hoch ist.

You can do that from the comfort of your own home. Maybe you need to go there for political cover. So we all go over to Geneva. Und jetzt Tarifen auf China. Der Tarifhike von Trump auf China ist bis zu 30%. Wir hatten eigentlich 8% von Trump, Biden und der Geschichte vorher. Also jetzt ist der übrige Tarif auf China 38%, was in jeder anderen Ära, wie wir es sagen würden, unglaublich hoch ist.

But thank goodness it's a whole lot lower. And so Percent comes out and says, we have got in the room with China. And China, by the way, has cut its tariff to 10%.

But thank goodness it's a whole lot lower. And so Percent comes out and says, we have got in the room with China. And China, by the way, has cut its tariff to 10%.

But thank goodness it's a whole lot lower. And so Percent comes out and says, we have got in the room with China. And China, by the way, has cut its tariff to 10%.

It's 30% Trump tariffs. Got it. Which loaded onto what we previously had. Got it. In the language of the nerds, it's stackable. Sure. And part of the problem is everything keeps stacking. So, China reduces theirs to 10%. There's a point in which I've been on half a dozen TV programs where, God bless you, Tim, you haven't done this. The host leans in and says, so who won, America or China?

It's 30% Trump tariffs. Got it. Which loaded onto what we previously had. Got it. In the language of the nerds, it's stackable. Sure. And part of the problem is everything keeps stacking. So, China reduces theirs to 10%. There's a point in which I've been on half a dozen TV programs where, God bless you, Tim, you haven't done this. The host leans in and says, so who won, America or China?

It's 30% Trump tariffs. Got it. Which loaded onto what we previously had. Got it. In the language of the nerds, it's stackable. Sure. And part of the problem is everything keeps stacking. So, China reduces theirs to 10%. There's a point in which I've been on half a dozen TV programs where, God bless you, Tim, you haven't done this. The host leans in and says, so who won, America or China?

Yeah. I want to rehearse the answer for your viewers so that they know how to yell when it comes up in their conversations. So, trade... The big intellectual mistake people make is they think trade is about competition. That it's a fixed pie and if I win, you lose. That's not true. The beauty of economics and of international trade is my field studies cooperation.

Yeah. I want to rehearse the answer for your viewers so that they know how to yell when it comes up in their conversations. So, trade... The big intellectual mistake people make is they think trade is about competition. That it's a fixed pie and if I win, you lose. That's not true. The beauty of economics and of international trade is my field studies cooperation.

Yeah. I want to rehearse the answer for your viewers so that they know how to yell when it comes up in their conversations. So, trade... The big intellectual mistake people make is they think trade is about competition. That it's a fixed pie and if I win, you lose. That's not true. The beauty of economics and of international trade is my field studies cooperation.

We study how we can make each other better off. I looked at my dinner plate last night. It had salmon that some Norwegian farmer had decided I might want to eat. It had quinoa, which proves I'm a liberal, but some Peruvian farmer... I was going to say, look at you, fancy pants with your quinoa.

We study how we can make each other better off. I looked at my dinner plate last night. It had salmon that some Norwegian farmer had decided I might want to eat. It had quinoa, which proves I'm a liberal, but some Peruvian farmer... I was going to say, look at you, fancy pants with your quinoa.

We study how we can make each other better off. I looked at my dinner plate last night. It had salmon that some Norwegian farmer had decided I might want to eat. It had quinoa, which proves I'm a liberal, but some Peruvian farmer... I was going to say, look at you, fancy pants with your quinoa.

Of course we had arugula. That was a religious sacrifice at the beginning of the meal. We lit it up, actually, and said three Hail Obamas. So, I had quinoa. A very nice gentleman in Peru thought I might want quinoa. There was some dill that went with my salmon, because I am fancy. Look, when it's in season, I buy it from America.