US EditionTop Economist Admits Trump May Have ‘Outsmarted’ Everyone on Tariffs
- In May, Trump imposed a 90-day tariff pause intended to give trade partners time to negotiate deals before its early July expiration.
- U.S. Treasury recorded $22.2 billion in tariff revenue in May, with Sløk suggesting a plan could generate $400 billion annually.
- Stock markets rose after the tariff pause, with Sløk noting that a one-year extension could reduce economic uncertainty and boost U.S. tax revenue.
- Beyond the pause, Sløk suggests that a one-year extension of tariffs and liberalization could reduce trade uncertainty, stabilize markets, and generate up to $400 billion annually for US revenue, with a 12-month trade access window for partners.
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19 Articles
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Top economist and admits president may have outsmarted us all on tariffs
Torsten Sløk, the chief economist at Apollo Global Management, theorized a possible way for President Donald Trump to avoid wrecking the global economy with his tariffs — if he changes how he’s playing his game
Torsten Sløk, chief economist at the major investment firm Apollo Global Management, acknowledged that while uncertainty over trade policy could hurt the economy, Trump could simultaneously ease tariffs on key U.S. trading partners and leverage the remaining levies to boost federal revenue.
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