Silk Summary:
Fortune
Top economist who previously sounded the alarm on tariffs sees a possible scenario where Trump ‘outsmarted all of us’ — Jason Ma // Sat, June 21, 2025
“In a note on Saturday titled “Has Trump Outsmarted Everyone on Tariffs?” Apollo Global Management chief economist Torsten Sløk laid out a scenario that keeps tariffs well below Trump’s most aggressive rates long enough to ease uncertainty and avoid the economic harm that comes with it.
Meanwhile, negotiations are ongoing with other top trading partners. Trump administration officials have been saying for weeks that the U.S. is close to reaching deals.
On Saturday, Sløk said extending the deadline one year would give other countries and U.S. businesses more time to adjust to a “new world with permanently higher tariffs.” An extension would also immediately reduce uncertainty, giving a boost to business planning, employment, and financial markets.
“This would seem like a victory for the world and yet would produce $400 billion of annual revenue for U.S. taxpayers,” he added. “Trade partners will be happy with only 10% tariffs and U.S. tax revenue will go up. Maybe the administration has outsmarted all of us.”
This is all happening meanwhile as the democrats’ heads explode as they can’t get out of their own way and can offer no solutions that would cure our ills!
