The U.S. economy is for sale

It was the flip-flop hailed around the world. After insisting that he would not budge on his tariffs and branding anyone who urged him to do so as a “PANICAN (A new party based on Weak and Stupid people!),” President Donald Trump reversed course and paused his massive reciprocal tariffs for 90 days (except on China) while he negotiates deals with other countries.

But sighs of relief might be premature. For one, America’s tariffs are still at a 100-plus year high by one measure, according to the Yale Budget Lab, which will cost Americans dearly. Even more important, these tariff negotiations will inevitably result in a cascade of corruption. The American economy is being transformed from the leading free market in the world to the leading example of crony capitalism.

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