Trade Disruptions

Yes, for intermediate goods. For those mostly consumed, this argument would have less bite.

This seems quite plausible. I do not have data to confirm it, but I'm hoping our trade economist friends will confirm or refute.

-see background information here

and they were terrible then

Probably not a big deal, at least yet.

Diamond-Mirrlees result: thou shalt not tax intermediate goods. Concept of effective protection pointed to this 40+years ago.

natural disasters have revealed how tightly integrated a lot of the supplies changes are and how vulnerable to apparently small disruptions
-see background information here

-see background information here
-see background information here

Also, overwhelming presence of intermediate goods suggests Trump’s “economists” missed the EC1 class on effective protection.