Since this is a marketing site.. and the news continues to be a senseless escalation of tariffs in a tit for tat ploy for.. some nebulous ploy to burn their own economies to the ground as the globes two largest economies hurtle towards recession or worse.

Here we go.

#1) “Tariffs ensure that consumes DO NOT receive cheap prices.”  Milton Friedman Nobel Lauret Economist.  speaking at Kansas State University 1978.

https://m.youtube.com/watch?v=qJCeoFxrDn0

“If a country has a comparative advantage.. it should engage in trade to enrich not only itself but those whom it trades with as EVERYONE benefits.” Adam Smith from “the wealth of nations.”

An Inquiry into the Nature and Causes of the Wealth of Nations, usually referred to by its shortened title The Wealth of Nations, is a book by the Scottish economist and moral philosopher Adam Smith; published on 9 March 1776, it offers one of the first accounts of what builds nations' wealth. It has become a fundamental work in classical economics, and been described as "the first formulation of a comprehensive system of political economy".^[1]Reflecting upon economics at the beginning of the Industrial Revolution, Smith introduced key concepts such as the division of labour, productivity, free markets and the role prices play in resource allocation.^[2][3]. 

The book fundamentally shaped the field of economics and provided a theoretical foundation for free market capitalism and economic policies that prevailed in the 19th century. A product of the Scottish Enlightenmentand the dawn of the Industrial Revolution, the treatise offered a critical examination of the mercantilist policies of the day and advocated the implementation of free trade and effective tax policies to drive economic progress. It represented a clear paradigm shift from previous economic thought by proposing that self-interest and the forces of supply and demand, rather than regulation, should determine economic activity.

Smith laid out a system of political economy with the famous metaphor of the "invisible hand" regulating the marketplace through individual self-interest. He provided a comprehensive analysis of different economic aspects – the accumulation of stock, price determination, and the flow of labor, capital, and rent. The book contained Smith's critique of mercantilism, high taxes on luxury goods, the slave trade, and monopolies, advocating for free competition and open markets. Over revised editions during his lifetime, the work evolved and gained widespread recognition, shaping economic philosophies, government policies, and the intellectual discourse on trade, taxation, and economic growth in the coming centuries.

https://en.wikipedia.org/wiki/The_Wealth_of_Nations

60% of shoes imported into the US are made in China, cell phones, electronics etc.  The US CAN NOT PRODUCE THESE ITEMS at a similar VALUE for the US Consumer.

Similarly, the US produces, Feed Grains, Soybeans, Sorghum, Soybean Meal and DDGS CHEAPER than anyone else on the planet.

My sons job is to originate these products.. which are loaded into containers (cans) and sent back to Asia.  My other sons job as a farmer along with myself is to Produce the grains and oilseeds for these WORLD MARKETS.

Trade is GOOD for everyone involved. 

Since Milton Friedman stated the obvious in 1978.. The US economy at the time was $2.496 Trillion.  By 2024 it has grown to $27.413 Trillion no doubt as we Exercised our “Freedom to choose” from the marketplace those goods and services which we wanted.  The US consumer voted with its wallet what it wanted and today stands as THE LARGEST ECONOMY IN THE WORLD.

Now I agree that not every aspect is good.  Friedman was wrong about importing steel for storage to some day be built into a battleship.. aircraft carrier or whatever.  It was thought that free trade would open markets as well as liberating people from poverty.  For the most part that has occurred.

Consider that 6 Billion people live on less than $5 per day.  It’s a fanciful looney uneducated hypothesis to IGNORE the reality that others can benefit from trade.. not only enriching ourselves but their lives also.

https://m.youtube.com/watch?v=iatxAIQTij4 

Peter Navarro is NOT ONLY WRONG.. but his actions if not stopped could lead to Wars.  WW2 was essentially started because after being defeated in the first Great War.. Germany was economically starved and isolated.  Something which the MARSHALL PLAN alleviated afterwards the SECOND time around.. which has worked.. and led to a GREAT PARTNERSHIP.

https://www.archives.gov/milestone-documents/marshall-plan

It’s GOOD to have Friends!! And Allies!!  It’s also GOOD to trade with China.  You don’t have to build Walls, nor enact tit for tat tariffs.. to create a FORTRESS AMERICA which will suffer a LOWER standard of living and a shrinking economy.

Navarro should be FIRED.  and this INSANITY STOPPED!!

https://thehill.com/homenews/administration/5243989-navarro-sidesteps-question-on-tariff-pause-decision-denies-insider-trading-allegations/

Now!!

China is retaliating.

https://www.thetimes.com/us/american-politics/article/trump-tariffs-china-latest-news-live-updates-lklxjxv7r 

I linked 15 reasons WHY A TARIFF WAR is Bad earlier.. if you haven’t read it.. here ya go again.  I didn’t copy the story.. other than highlights.. use the link.

These are a very good critique of why it’s bad to do what Navarro has conned Trump into trying.

https://www.dtnpf.com/agriculture/web/ag/news/article/2025/04/08/15-reasons-tariffs-mistake

“It's not hard to make the case for bringing factories back to the United States. It's likewise not hard to understand that some carefully targeted tariffs, especially when coupled with other industrial-policy measures, would give this "reshoring" a boost.

It's impossible to make the case for very high tariff levels on everything made by almost every country on earth. There are a great many things wrong with what this administration is doing. Let me count the ways.

One:.. The US does not produce Bananas..

Two. The US does not NEED low wage jobs.

Three Tariffs will not cause factories to be “reshored.”

Four.. Industries where the US has a Comparative Advantage like Agricultural will be hurt.

Five.  Covid taught us the value of international supply chains..

Six..

Seven.. ReShoring would require high levels of automation.. not likely to restore the factories as we remember them In Detroit and elsewhere.

Eight..Why are we imposing tariffs on Countries which we have surpluses?

Nine: High and broad tariffs may well reduce U.S. trade deficits, but they'll do that by slowing the economy's growth or even bringing on a recession. Tariffs discourage consumption by making imported products more expensive and allowing domestic competitors to raise prices. Economist Richard Katz noted that over the last six decades, the U.S. trade deficit has declined in years when economic growth slowed and increased when the economy grew faster.

Ten.. the formula for retaliatory tariffs is wrong..

Eleven.. why is Russia off the list but US Allie’s on it?

..
Fourteen.. unintentional consequences.. Bonds are falling and interest rates are rising as the US dollar falls.. not the desired nor intended impact.

Fifteen: If other countries are forced to trade less with the U.S., with whom do you think they'll trade more -- and have closer relations with? Yes, China.

I am sympathetic to the goal of doing more manufacturing in the U.S. These tariffs are not the way to do it.”

yup. 

“Tariffs succeed in protecting consumers from low prices.”

Why are we doing this?  

ENOUGH ALREADY.. KNOCK IT OFF!!!