I can't stop thinking about Dave Smith's podcast regarding tariffs. Fundamentally, he is correct in his arguments.

But, I think there is a massive disconnect between what the principles of Austrian Economics states on trade and the reality we live in. The whole trade deficit thing is indeed silly, but things are massively complicated when including nation states and fiat currencies. Leaving out the politics of those two things leaves this massive gap between idealogy and reality.

I'd love to live in a world where trade is truly free, but right now, it is essentially utopian thinking.