Dean Baker responds to President Trump’s Liberation Day scheme. Should we feel liberated now? Any richer? Certainly not.

In fact, Baker makes it quite clear:

“Liberation Day involved the largest tax increase most of us will ever see in our life time. Trump came up with the idea that he was doing reciprocal tariffs, where ostensibly he’s taxing other countries based on how much they are taxing our exports to them. Then, cut it in half–according to Trump. And that is somehow going to make us all richer. So just about every part of this makes no sense.”