The right answer on trade is unilateral free trade, and the hard part is only explaining why the objections fail.

tariffs Taxes on imports: whether they close a trade deficit, what they do to prices, and what they are really for.

On the topicDo tariffs do what they are imposed to do?under our view: A trade deficit is a capital surplus, so the deficit to fix is the budget's

A private bookmark. Not a position, and never counted.

What John H. Cochrane actually said

Word for word, with the source under each one. They did not write this page.

Do you hold this korrent?Do you also believe this?

Cannot both be true

Europe cannot keep the world's strictest environmental and social rules, invest less than its competitors and run a more naive trade policy, and still expect to create jobs.

Cochrane says the right answer is unilateral free trade and that the rest is explaining why the objections fail. Macron says Europe cannot run a more naive trade policy than its competitors and still expect to create jobs, which is the objection stated as a policy. One of them is describing the other as naive.

Our reading — they may agree, disagree or merely touch the same thing. Closest first: a shared subject counts for most, then how near the wording is.