Comparison between current and ancient depiction of pyramids of wealth. The red portion of the bottom pyramid, inspired by Mesoamerican models, represents the blood, sweat and tears of the poor. The rectangular gold reflects the wealth of the elite.

It is true that the current trade deficit of the U.S. is unsustainable. No country can spend more than it produces indefinitely without eventually having to face catastrophic consequences. The markets, the elite and the government understand that. It is also true that the history of deficits predates Mr. Trump’s two administrations, and that no one other than he since Ross Perot has been more vocal about the topic. So, credit where credit is due. President Trump is the only one that has had the courage to do something about it, particularly in the context of the rise of China, and right behind it, India.

But nothing in this world lasts forever, or more concretely, all things must pass. Therefore, tariffs are at best an interim step. In fact, U.S. Treasury Secretary Scott Bessent confirmed the concept when he said that the tariffs showdown with China is unsustainable. But, like Hernán Cortés, Mr. Trump’s decision to impose them on friend and foe alike, and to threaten Canada and Greenland, among others, means that he’s burned the ships that carried the precious, irreplaceable cargo of goodwill that had been so painstakingly amassed during, and in the wake of, World War II. Having staked so much on tariffs, the question is, what is Plan B in the event they don’t deliver the much needed result -balanced trade? What’s more, tariffs are a regressive tax, paid for by the people who buy everyday items such as food, clothing, and sundry supplies. Accordingly, taxpayers of modest (and lower) means, who are compelled to divert a much higher percentage of their income to such items, will be disproportionately impacted. It is high time that the well-being of the nation be measured by the plight of the middle class (and below), not the net worth of the top 10 percent of the population. Otherwise the aggrieved voters, who are the majority of the electorate, might do so themselves.