That's the headline for an op-ed penned by Brett Arends in MarketWatch.

He goes on to say: "The hysteria must have a political agenda because the amount that's being charged is peanuts."

Sure, Arends has a point, that in real numbers the tariffs are small when measured against a $20 trillion economy.

However, Arends fails to measure the psychological costs of creating trade frictions with no explanation for America's leaders where we are going with this.

Plus, he fails to calculate the costs of American companies selling goods and services with operations in China (Apple famously generates 20 of its revenue there, and both Ford and GM sell more cars in China than North America). Second, he fails to calculate the opportunity costs of companies spending now spending resources on lawyers, lobbyists, and supply chain pros instead of R+D, innovation, and shareholder dividends.

Please don't take my word for it.

If tariffs were so amazing, the stock market would go up, not down.

This column has all the hallmarks of click bait and being sensational for being sensational.

Frankly, the oped is a doughnut - it tastes good, but it's empty calories.

-Marc

Marc A. Ross is the founder of Caracal Global specializes in political communications for global business working at the intersection of globalization, disruption, and politics.