Thursday, August 7th is now tariff day, just postponed from August 1st and originally from Liberation Day in April. Despite delayed execution, tariffs, in combination with the One Big Beautiful Bill, are central to Making American Great Again. Some may be surprised that MAGA is a plan, not just a slogan.
Last month’s Monthly Treasury Statement showed tariff revenue running already at annual rate of $324 billion, or $3.2 trillion over the next decade. In early June, the Congressional Budget Office scored Trump’s emerging tariff regime at $3.0 trillion over the decade....