As noted in "The Chat GPT prompt that blew up and World Trading System," the current tariff war is ill-conceived. Everyone in U.S. and abroad suffers.
Expert analyst on Sunday's Fareed Zakaria pointed out that manufactured goods is now only 8 percent of US gross domestic product. So of course we have trade imbalances.
We are a nation of consumers with big appetites for high quality goods produced cheaply abroad. Escalating tariffs won't change anything. Especially overnight!