By Matt Vespa / Posted July 2, 2025
Look away, liberals, experts, and Panicans. The tariff policy helmed by President Donald J. Trump was lambasted as a tax increase on working families. The panic was full-blown, with numerous talking heads and experts warning that it would cause economic turmoil and price increases. During the first two weeks, these clowns were licking their chops as the stock market underwent a readjustment period, an expected event following months of spending under Joe Biden. By the end of April, Liberation Day’s benefits were becoming apparent.
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The market understood the tariffs were mostly used as a bargaining chip. Those who wish to pay them will pay; others can discuss new deals. New agreements were renegotiated, with the United Kingdom being one of the significant ones. We’re making progress with China. The US-Canada talks are back on after Ottawa dropped the digital services tax. Additionally, CNBC reported that $121 billion has been brought into the United States through the tariff policy, with the stock market reaching a historic high yesterday.
It’s why one expert economist who trashed the tariffs said now that maybe the president outsmarted us all (via NY Post):
“Torsten Sløk, chief economist at investment giant Apollo Global Management, said that while the uncertainty surrounding trade policy has already started to weigh on the economy, Trump could lower tariffs on most of the US trading partners while using the levies to boost federal revenue.
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Sløk suggested in a recently posted analysis that the administration’s approach may be more strategic than previously thought.
The optimistic outlook stands in stark contrast to his earlier position.
[…]
This time around, Sløk suggested that one potential move could be to keep 30% tariffs on Chinese imports while imposing 10% tariffs on all other countries — offering them a 12-month window to reduce non-tariff barriers and liberalize trade access.
“Extending the deadline one year would give countries and US domestic businesses time to adjust to the new world with permanently higher tariffs,” Sløk wrote.
[…]
“This would seem like a victory for the world and yet would produce $400 billion of annual revenue for US taxpayers,” he wrote.
“Trade partners will be happy with only 10% tariffs and US tax revenue will go up. Maybe the administration has outsmarted all of us.”
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Kush Desai, a White House spokesperson, told The Post via email: “President Trump was right all along? Many such cases!”
Note: This article was first published by The Townhall.
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