Bonus Quote of the Day

“When you put tariffs on goods that people in the United States consume every day, it’s a consumption tax. So all the tariffs did is they made products that Americans were going to buy more expensive. And in fact we got the final trade data numbers… And lo and behold, we hit an all-time record-high trade deficit globally, and with China.”

— Former White House economic adviser Gary Cohn, on Freakonomics Radio.