Here's the core tension in current economic policy: can pro-growth moves like deregulation and tax cuts really compensate for the drag from tariffs? Because let's be real—tariffs are basically a different kind of tax, hitting consumers and businesses. So the bet is that you'll gain more from releasing regulatory constraints and letting companies keep more cash than you'll lose from higher import costs. Interesting thought experiment though: what if we ditched the tariff part of the equation? Where would growth be then? That's the question everyone in markets should be asking right now, especially as we think about inflation, asset prices, and where capital flows next.