Tariffs expose US weak flank in services

   #1: Stability/security/trust

   #2: Debt

   #3: Services

#2 was put in serious jeopardy on "Liberation Day". The "allies" he attacked are the same people who buy our debt. Oooppsie! T-bill rates jumped by 1/2 a percent in the week afterwards and "liberation" was immediately put on hold.

#3 has been largely ignored thus far in the "trade war". But the services we export are larger than the goods we import. A "tariff" on services would pretty much negate any negotiating advantage Trump think he holds. Sorry, but you were conned --- the emperor has no clothes.

Bottom line: There are no "winners" in a broad scale trade war. Everyone loses. The sooner we put this misadventure out to pasture the better.

And by the way, there is nothing "free" about economics by decree. It is really a socialist idea.