So, we’re importing less stuff, but not making more stuff, which just means ultimately people are going to be buying less stuff, primarily because tariffs represent a direct drag on consumption here, which is what every economist knew would happen as that’s what’s been the outcome in most every other implementation of Tariffs ever.
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Are we manufacturing more stuff domestically?
No: https://fred.stlouisfed.org/series/GOMA
Manufacturing has been static since 2022.
So, we’re importing less stuff, but not making more stuff, which just means ultimately people are going to be buying less stuff, primarily because tariffs represent a direct drag on consumption here, which is what every economist knew would happen as that’s what’s been the outcome in most every other implementation of Tariffs ever.
Neato.