He Can Be Really Dumb Too
Brad DeLong calls the tariff the Obama administration slapped on Chinese tires "really stupid." Soren Dayton doesn't pull punches:
[W]here was the logic in this? He helps his allies, with one hand, but hurts them with the other. He hurts the economy. He hurts the government run companies. And he opens a trade war just in time for the G-20...
Mish piles on:
Not a single job will return to the US as a result of these tariffs. Imports from China will drop but imports from elsewhere will rise. Thus, the unfortunate tragedy in this mess is that Obama's kowtowing to the unions is going to cost union jobs. The ultimate irony is misguided unions are cheering every step of the way.