Jared Bernstein: “we depend less on trade than most other countries. That means, as Trump has correctly argued, we can hurt them more than they can hurt us.”

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https://contrarian.substack.com/p/a-trade-warfor-what

This essay assumes the US doesn’t invade Greenland or turn Canada into an American colony. Bernstein further assumes rational responses to the trade wars. Given those assumptions, what lies ahead for Americans is merely recession, growing misery, and general decline for decades to come.

Solid reference.