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The US is effectively withdrawing from world markets.

This is profound and hard to believe --- because it is just plain dumb. China loves it. It is total capitulation to their economic agenda.

25% of US GDP is derived from global trade. Turning your back on this will lower the standard of living for Americans in general by raising prices.

Next up in this regression --- a default on US debt.

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US trade policy acting like it’s inspired by 17th century China sure is something isn’t it.

nah, stephen miran doesn't want us to default on US debt. Instead, the goal is to devalue the US dollar to reduce the cost of debt service (with the convenient side effect of reducing real incomes while maintaining the wealth of asset holders).

see: https://www.hudsonbaycapital.com/documents/FG/hudsonbay/rese...

devalue the US dollar to reduce the cost of debt service

The only way to service the debt --- is by selling more debt.

Which will become increasingly difficult to do --- which leads to default.

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