Trump 2.0 might be right about this, two Republican business leaders told me
Plus, what Randy Feenstra's decision to run for governor could mean
Can you explain President Donald Trump’s trade policies with other countries? I can’t. It changes a lot. And frequently. I think it is a 10% tariff on most countries, 145% on China. But that may have changed again.
Trade War
American presidents over the past decade avoided a trade war of this magnitude. But Trump insists that he knows best. Many (most?) economists disagree with Trump’s vision about what his higher tariff will do.
Trump believes:
American companies will make more products here.
Americans will get better jobs and earn more money because of that increased production.
U.S. brings in way more revenue because of increased tariffs on other nations’ goods.
Trump is able to reduce or possibly eliminate Americans’ income taxes because of all the newfound foreign tariffs pouring in the country.
I talked to two Republican business leaders who think Trump’s strategy may actually be crazy enough to work.
Sure, they both concede, it won’t be likely be as prosperous as Trump proclaims. But they also both know Trump’s personality. And they know to discount his platitudes and exaggerations. They both feel like Trump’s combination of dealmaking and threatening will — long term — improve the country.
Farmers’ Fears
Farmers, like Blake Hurst of northwest Missouri, are sweating this out. Input costs had been going up already and are getting more expensive because of Trump’s trade war. And Hurst worries about farmers losing export possibilities as other countries retaliate to Trump’s higher levies. That could make products pile up in the U.S. and lower prices for producers.
Most Americans Disapprove of Trump on the Economy
Americans are losing optimism about Trump’s overall handling of the economy, according to RealClearPolitics’ average of recent polls.
Approve: 41.7% Disapprove: 55.1% -13.4% spread
Americans worry that Trump Tariffs 2.0 will end up doing what many economists warn: The economy will be worse off, and likely so will many American families.
What was especially interesting to me about the conversation with the two Republican business leaders was that neither thought Trump would really be bothered if the pain of his trade war brings the American economy down into temporary recession.
Farm CPA specialist Paul Neiffer recently told me that he also wonders if Trump wants the country to fall into recession. The idea would be that Trump — as a real estate guy — is fixated on borrowing rates (that’s why berates Fed Board Chair Jerome Powell like a teenager) and wants them to fall. But the Fed has allowed rates to stay flat to make sure that the economy doesn’t heat up too much, too fast.
Recession would be temporary, the theory goes. Interest rates would fall. Higher tariff revenue would kick in. Americans would ultimately do better than they are now.
How Long Will This Take?
Even if that did eventually happen, how long would it take? How much financial pain would his trade war inflict before people experience any of the benefits?
The two Republican business leaders have long-term faith in Trump Tariffs 2.0. Do you?
Now, an announcement about announcement week.
Four Iowans made campaign 2026 announcements regarding three high-profile positions. There is something that I found interesting about each one. It is the focus of this week’s “Inside Iowa Politics.”
How many of these four candidates can win in 2026?
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The talk is growing louder that 4th District U.S. Representative Randy Feenstra will seek the Republican nomination for governor in 2026.