Billionaire investorWarren Buffett has called out US President Donald Trump’s proposedtariffs on imports into the country, saying the import duties would not be paid by some tooth fairy, but by American consumers, and so amounts to a tax on US citizens. This is wholesome fact-checking.Such debunking of some fantastic assumptions underlying Trump’s views on trade and tariffs is most welcome, especially as other bits of seemingly Trumpian fantasy have started floating and bobbing on the turbulent sea of New York’s finance chatter: about, for example, a Ma-a-Lago Accord, harking back to the Plaza Accord in the Eighties, to force America’s trade partners and creditors to accept a deal that would weaken the US dollar, swap the dollar bonds they currently hold for 100-year zero-coupon bonds, and Make America Competitive Again in the world’s export markets.
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