Apollo Global Management’s chief economist, Torsten Sløk—who had earlier warned that President Trump’s tariff approach might trigger a recession—now suggests the policy may prove strategically effective. Sløk proposes a framework: maintain 30% tariffs on Chinese goods and 10% on imports from other nations, offering a 12-month window for trade partners to reduce non-tariff barriers.
He argues this plan could:
- Reduce policy uncertainty and stabilize markets
- Encourage foreign governments to open their markets
- Boost federal revenue by roughly $400 billion annually without increasing domestic taxes
Sløk calls this balanced approach a potential “win–win” for both the U.S. and global partners, signaling a major shift from his earlier, more critical analysis.