Tariffs aren’t supposed to be part of modern trade policy. For decades, both parties embraced free trade and warned that tariffs hurt consumers. So when Donald Trump pushes them and says other countries are “ripping us off,” it sounds like a throwback, or a threat. But the real issue isn’t that he supports tariffs. It’s that he is unclear as to why, and his administration has offered numerous conflicting justifications. His critics aren’t much better; they quote Smith and Ricardo but skip over the most important question: What are the tariffs supposed to accomplish? Tariffs are taxes, with all the good or bad that entails. To judge them, you need to know the goal and whether the costs are worth the expected benefits.
Leave a CommentGearhead, former byte slinger, outsourcing expert, digital marketing consultant, terrible musician
