Bosses Beware: The Tariff Shock is Not Like Covid-19

Yet business is not back to usual. Even if the tariffs stay paused and prohibitive ones on China come down, trade barriers and uncertainty will remain. Those risk being to America Inc what Brexit was to uk plc—a persistent drag on growth. In a new working paper Nicholas Bloom of Stanford University and colleagues find that by 2024 Britain’s exit from the eu had cut productivity by 3%, business investment by 12-20% and gdp by 6-9%. American ceos should put away their pandemic diaries and chat to their British counterparts instead. They won’t like what they hear.

Having the economy be at the whim of someone who doesn't understand economics and has no interest in learning is a dangerous thing.