At the end of the day, there is an arrogance in these tariffs that says the world needs American goods and services more than America needs the world’s goods and that we will cave before America.

That’s not even the case. USA is the biggest importer, helped along by having the world’s reserve currency. Trump’s idea is to force everybody to quickly build factories in America, and manufacturing was part of the golden age, so he brings wealth back to the States. That’s why he keeps yammering on about the trade deficit.

I takes a few years to build a factory, from idea to first product. Many will figure it’s easier to wait for a new president instead of actually committing billions to build out production, find workers and set up a local supply chain.

That’s why Tesla’s full self driving is officially still a level 2 cruise control. But of course they promise to jump directly to level 4 soon™.