On Monday, the White House announced a trade agreement with Vietnam: a 20 percent tariff on goods imported to the United States, and in return, Vietnam will eliminate all tariffs on U.S. exports. In The Forgotten Economic Theory Behind Trump’s Tariffs and its sequel, The Forgotten Economics Behind Trump’s Tariffs: Part II, we made the case that Trump was not launching a reckless trade war. In Conservatism Revisited, Viereck wrote that Metternich offered “the dignity of endurance.” Trump, through these deals, is offering something similar to the American worker and industrial base: the restoration of long-denied balance, the dignity of being treated fairly, and the end of the assumption that American market access is free and unconditional, some kind of right of foreigners to the purchasing power of our citizens.
Author: John Carney, John Carney
Published at: 2025-07-02 22:50:10
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