That’s the subject of my first ever piece for the Washington Post, which you may have heard is doing free markets now on the opinion page.
Here’s a taste:
Donald Trump moves fast. Boats, however, are really, really slow. That basic disconnect is the key to understanding how the president’s tariffs are playing out.
Slow: The giant container ships that carry most international trade take about a month to cross the Pacific. That means many of the goods loaded onto ships in China the day before April 2, or what Trump has called “Liberation Day,” have not reached U.S. shores. It also means the effect of canceled sailings post-“Liberation Day” have hardly been felt.
Read the whole thing here.