Protectionism’s Short‑Run Sugar High

The author contends U.S. tariffs, deregulation, and tax cuts won’t trigger immediate inflation or a market crash and may even supercharge equity valuations. The payoff is framed as a 'last hurrah'—a near‑term boom that masks longer‑term fragility and likely unwinds under a successor. — If protectionism can deliver a short burst of apparent success, standard market‑discipline arguments against tariffs need timing‑aware nuance in media and policy debates.