Simply heard Wilbur Ross say on Bloomberg (roughly 3:35 ET) “The President was serious about fixing the balance of payments problem of the US”. I laughed and laughed and laughed. Perhaps he was decided, however he had, like Peter Navarro, no clue about the way to do it.
Right here’s the US commerce stability outlined utilizing NIPA knowledge.
Determine 1: US Internet Exports to GDP (blue), s.a. NBER outlined peak-to-trough recession dates shaded grey. Supply: BEA 2024Q1 2nd launch, and writer’s calculations.
I obtained uninterested in “winning” (as outlined by Trump) way back – however for a recollection of the horrors of Trump financial policymaking, see this put up.
