Donald Trump's tariffs are believed to be what has cost him Gary Cohn, his top economic advisor. What will they cost you? Hello, my name is Paul Carroll. I'm the CEO and founder of Efficient Wealth Management, a boutique wealth management firm. The president has done one of the few things in his power to actually move the stock market. And by imposing tariffs, he has hurt the market. The global tariffs he's recommended are 25% on steel and 10% on aluminum imports. The Wall Street Journal has candidly stated this is a folly, and I agree. The politics of tariffs result from a fundamental misunderstanding of both trade and trade deficits. The first of ten points I'd like to make is that due to taxes and transfer pricing, trade deficits are always exaggerated. If they weren't, they would offset globally to a net of zero, and that is certainly...
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