On his show, Ben Shapiro criticized President Trump's recent global tariffs, labeling them potentially unconstitutional and fundamentally flawed in understanding trade deficits. He characterized the tariffs as the largest tax increase on Americans since 1968, predicting significant costs for consumers and producers. Citing the immediate stock market drops following the announcement, he outlined the deleterious effects of such policies. Shapiro argues that trade deficits aren't indicative of economic health, asserting that increased international trade can enhance wealth rather than diminish it, countering Trump's zero-sum perception of trade.
So the idea that every trade deficit someone is getting screwed is a zero-sum view of how economies work and it's not true.
Trade deficits are an accounting procedure. Trade deficits have pretty much nothing to do with the health of an economy.
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