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From Daily Mail:
A world-renowned economist has changed his tune on President Donald Trump’s tariffs.
Torsten Sløk, a chief economist at Apollo Global Management, posted a new note admitting that his initial reaction to the policy may have been wrong.
But now, he’s framing the President’s policy as a clever long-game — one that invites global negotiation while increasing federal revenue.
Sløk wrote in the note:
“As we approach the Trump administration’s self-imposed 90-day deadline for trade deals, markets are starting to speculate about what comes next. The longer uncertainty remains elevated, the more negative its impact on the economy, as shown in the chart below.
“Maybe the strategy is to maintain 30% tariffs on China and 10% tariffs on all other countries and then give all countries 12 months to lower non-tariff barriers and open up their economies to trade.
“Extending the deadline one year would give countries and US domestic businesses time to adjust to the new world with permanently higher tariffs, and it would also result in an immediate decline in uncertainty, which would be positive for 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 US taxpayers. Trade partners will be happy with only 10% tariffs and US tax revenue will go up. Maybe the administration has outsmarted all of us.”
Trump has outsmarted everyone of tariffs ….. writes Apollo capital chief economist.
Below is the tariff collected by US till date .
I am also of the view that Trump will cut the income taxes to ZERO for 80% of all tax payers if tariff revenue continue in this direction .. and… pic.twitter.com/aIEVLEbDil
— Ritesh Jain (@riteshmjn) June 26, 2025
READ MORE AT DailyMail.
