I have seen a lot of know-it-all democrat voters posting in the last few days about how Trump's economic strategy is bound to fail and those who voted for him for economic reasons are fools. Obviously I am extremely sceptical of these people, as economic literacy has never been a strong point of progressives (not to mention how they are all suddenly experts, like how they were for virus propagation, climate change, etc.).
Nonetheless, I myself am no economist. Can somebody with a better understanding explain the strategy to me, and also any potential ways in which it COULD backfire in the way progressives are suggesting?
We don't know what Trump's plans are.
Saying we're going to convert to 100% tariff-funded government is probably Madman Theory so other countries won't resist targeted tariffs that force BYD to build in America for instance.
If somebody is saying "Trump's plan" won't work they've either defined what they believe Trump's plan is, which may or may not be what his actual plan is, or it's just fear porn.