and yet some escalation would actually be positive, or else the threats (and actions) will get worse. That's how bullies operate.
We (@julianhi.nz @ckhead.bsky.social @schularick.bsky.social & I. Méjean) made this point in July, and it only got worse since then:
www.kielinstitut.de/publications...
kielinstitut.de
An Alliance for Open Trade: How to Counter Trump’s Tariffs - Kiel Institute