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I am not an economist

You can’t turn around an ocean liner on a dime.

For 20/30 years , US budget deficit soared . Completely Un controlled.

China ´s exportation ( US comercial defecit) filled that big financial hole  . Maximising his industrial structures.    Japan and China owns most of the US tresories.

No tariffs will  bring back US  industrial supremacy. And US is way behind using robots on the production ´s chain.

Chinese are also way ahead about batteries , electrification , etc. Chinese products are not junk .  They were able to ´´ land ´´ on the dark side of the moon.

 Everyone’s retirement funds took a $33K hit (on average)

Not Charles Schwab.  He made $2 Billion after the Orange One said it’s a good time to buy.

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... We are going to need to greatly lower our standard of living.

Ideally, the key is to lower the Cost of Living - with minimal lowering of our standard of living - not an easy task.  The CoL has aggressively shot up when government deregulation became a mantra.  Guess who started that?   (Hint: There was money to be made by deregulation.)

Anybody can short the US  and/or scoop in like a vulture when the opportunity arises. Edmund Safra almost doubled his net worth when Reagan gave his state of the union speech. The last thing Reagan said was "and now about the economy." Right then and there he swapped US dollars for Swiss francs and made a killing as Reagan wrecked things, kind of like right now. 

All the best,
Nonoise

the problem is, it is only political in your eyes and many maga people’s eye. It’s not political. It’s factual. What makes it political is that we have to lie about it.
 

+1 @gano