United States Politics: ∆τ_i*ε*φ*m_i<0 where ε=4 and φ=0.25

[God Emperor Etiolate]

They really don't know. Watch the markets. If they had confidence then it wouldn't be like this. Consumers don't know either. 

Tariffs are like a horseless carriage to people.

Oh, so when you say "they" you mean the gormless masses without even a basic understanding of economics...people like Trump. 

Economists do know and the US government knows as evidenced by the first link. Historians know too because they understand that the world has always suffered when protectionism has been popular and has advanced when free trade is encouraged.

Sorry. I didn't think what I was saying was debatable. I don't consider stupid people in that angle.

When I speak to this, I mean I am in meetings and what you hear is, eventually, 'we really don't know how tariffs will play out".  

Over and over. That is the phrase you hear.

The economic behavioral response is panic and protective, but there's no solid reasoning behind it. And I am not saying there should be. It's been a long time since tariff and the landscape is much different now.