It's interesting how similar the Trump plan is to the one Buffett suggests. Clearly it trades simplicity of implementation for flexibility. It seems to me like there are two major differences: doesn't incentivize exporters as much, since they don't receive ICs; and punishes imports from some countries more than others vs. all having the same IC market price applied.

Also interesting to update some of the numbers from the doc. Buffett mentions the $2.5t net foreign ownership vs. $12t in total US stocks in 2003; the values are now $26t vs. $62t.