Approved Story
1
Format
Region
Person
News Item Format
Standard
Autocurated
0
Who knows what will happen in 90 days? The Soviet Union was governed by Five-Year Plans; now, we are governed by 90-Day Pauses.
Never mind.
President Trump’s 145 percent tariffs on China ran smack into Stein’s law, the late economist Herb Stein’s famous axiom that, “If something cannot go on forever, it will stop.”
What was effectively an instant embargo on the biggest importer into the United States wasn’t sustainable, and sure enough, it’s not going to be sustained.
The U.S. and China have mutually agreed to back off a tit-for-tat trade war that quickly spiraled into territory that meant wanton economic destruction for both sides.