President Donald Trump on Thursday announced a new round of punishing tariffs, saying the United States will impose a 100% tariff on imported branded drugs, 25% tariff on imports of all heavy-duty trucks and 50% tariffs on kitchen cabinets.
Trump also said he would start charging a 30% tariff on upholstered furniture next week.
Economics is a messy science where you’re constantly dealing with messy data. There are always several variables at play, and their countless interactions make interpretations super tricky. You can’t really make controlled double blind experiments to isolate the effect of a specific variable.
Science, you say… Fortune telling, perhaps?
It’s still in its infancy. Give it a few centuries. Back in the 1400s physics was still full of opinions rather than theories backed up by empirical experiments. Economics hasn’t even figured out what the elementary particles or fundamental forces really are or how to measure them. That’s why all the models are pretty vague and qualitative at the moment.
Oh yes this is just extra messy. Like the federal reserve being robbed by several loosely cooperating gangs with differing goals… During a riot caused by yet another group of gangs some of whom overlap.
A forensic nightmare within a clusterfuck.