There are two things I want people to remember:<p>1. The administration has absolutely no idea what they're doing. Don't be tempted to think this is part of some grand plan. Don't believe any narrative about how short-term pain was intentional. There's borderline or actual panic in the administration, going so far as to sideline Peter Navarro to get Trump to back down [1]; and<p>2. All of this is happening so the wealthiest 1000 people, who already pay almost no taxes, can pay slightly less in taxes. They've already started the rhetoric about tax cuts for average people based on the 2017 tax cuts for people <i>below the top bracket</i> expiring this year. The cut in the top bracket and the corporate tax rate cuts were permanent. So another likely temporary tax cut will be sold while giving away trillions to the wealthiest people on the planet.<p>[1]: <a href="https://www.wsj.com/politics/policy/trump-tariff-pause-navarro-bessent-lutnick-b9e864fb" rel="nofollow">https://www.wsj.com/politics/policy/trump-tariff-pause-navar...</a>