The Fed risks a deflationary spiral by not cutting rates, these bond experts say

They are talking about other countries, not the USA. They want the Fed to capitulate on some very marginal and muddy logic.

"It should be noted that part of HIMCO's concern over tariffs is from retaliation, which outside of China has not been an issue from the levies imposed by the Trump White House on the rest of the world. But the firm does point out that international trade volume is one of the highest multiplier components of GDP for most countries, so when it dries up, net foreign investment does as well."

USA won't be sending so much dosh overseas and so the other 200 countries might be tickled with some negligible loss of liquidity and may slow down their purchase of US equities and bonds. Diddums.

It's an accounting wash. Forget it.

That they are partisan and do not have the capacity to think is clear late in the article. This is just so clueless it borders on poetic -

"Tariffs, despite their negative effects, remain the only viable tool to create a more strategically diversified industrial economy and to move the world back toward a more efficient allocation of its resources"

umm, there is something called the market mechanism, boys. It has been known to work quite well. Except is some third world countries, there charity is often required.

Uncontrolled spending and tax cuts is where we find todays economy.