Authors
Steve HankeMatt Sekerke
Outlet
Fortune Magazine
Type
Op-ed
Date published
March 19, 2025
Countries/regions
United States of America
Topic
TradeTariffs
Permalink
Last edited time
Aug 7, 2026 3:31 AM
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Trump's Tariffs Program Is Based on Flawed Assumptions About the Trade Deficit
Author: Steve H. Hanke and Matt Sekerke
Outlet: Fortune
Date: March 19, 2025
Hanke and co-author Matt Sekerke argue that Trump's tariff program rests on two fundamental errors about the U.S. trade deficit: that it is caused by foreigners, and that it is inherently bad for the country. They contend the trade deficit is homegrown, a product of America's own saving and investment choices, and that for Americans it functions as a privilege rather than a liability, given the close and often overlooked link between national saving, investment, and the trade balance.
Full Citation:
"Trump's tariffs program is based on flawed assumptions about the trade deficit," Fortune, March 19, 2025. (with Matt Sekerke)