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Paul Krugman offers a chart showing the rise in tariffs that Goldman Sachs is predicting Trump to announce today. Krugman comments:

"That bump at the left of the chart is the infamous Smoot-Hawley tariff. So if the reality is anything like this, it will be a much bigger shock to the economy than Smoot-Hawley, especially because imports as a share of the economy are three times what they were in the 1920s."

#Trump #tariffs #LiberationDay #recession #inflation #trade
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https://paulkrugman.substack.com/p/stop-looking-for-methods-in-the-madness