At what point do we go to the next level and someone like Bill Butcher, God forbid, is telling a story about going out of business? Yeah, it's awful. And it's kind of like this was totally predictable. I mean, If you'd listen to any economist, when you put on this level across the board, tariffs, specific tariffs can be used as a tool, but not as an economic theory of the case. The time I think we did this with Smoot Hawley and you know, yes, America had a slight trade surplus, was the price was. We ended up with the worst depression in our American history. (01:17–01:29)
CLAIM
Asserts that economists generally agree that broad tariffs are not effective as an economic strategy.
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