Could you have a personal trade deficit?
And if so what should you do about it?
Dear Friends.
I’m not an economist.
I’m not a politician.
I’m just sitting on the sidelines absorbing an overwhelming amount of information about tariffs and the trade deficit.
I’ve kept my cool but honestly, even for someone like me who knows better, I’ve had my moments.
But while we should not go out and spend down our cash to load up on a ridiculous amount of stuff we will probably need at some point in the future, we also should not put our heads in the sand.
Here’s a sampling of what I’ve told the many media outlets who have been kind enough to ask me what I think (which is always so flattering.. so thank you media friends!)
On Newsnation’s Morning in America I spoke about ways to tariff proof your finances and how to manage your personal trade deficit:
Amid Trump’s tariffs, 5 financial pros share their thoughts on stocking up on certain items
This piece from MarketWatch came after they asked me what I thought about Mark Cuban’s comments to stock up ahead of the tariffs.
My answer:
“Cuban is a smart guy and his comments are always worth factoring into a decision, but make sure it’s your own decision based on your personal economics,” noting you should avoid buying in a panic. “You certainly don’t want to run up your credit cards and take on debt buying things you would not otherwise be buying,” says Rebell. “The news is still very new and a lot could change.”
You can read the piece here.
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