THIS:

As I've been warning for months. Trump is fighting the deflationary war not the previous war on inflation. We do not want runaway deflation anymore than we want runaway inflation. Both are economy killers if allowed to get out of control. The best would be 0% but a target of… https://t.co/IJ1jtbgK5Q

— unseen1 (@unseen1_unseen) November 18, 2025

Going back at least to the Obama years, China’s most important export might not have been cheap consumer goods, but deflation.

Xi has gotten even more aggressive with exports, trying to keep his economy afloat. While I’m not always a huge fan of them, tariffs are the necessary defense mechanism to Beijing’s mercantilism-on-steroids.

Plus, we need to re-shore vital industries.