Trump’s tariff troubles continue
Donald Trump’s tariff policies reflect outmoded 19th-century economic thought. Yet he has persistently pushed the notion that free trade represents “a rip-off” of American producers and workers. Despite the reality that neither consumers nor workers benefit from restrictive trade, and it is estimated that 86 to 96 percent of levies on imported goods are passed on to Americans in the form of higher prices. Everything from beef to automobiles is more expensive, and inefficient United States industries are favored. Thus, consumers are not free to choose, and Adam Smith’s Wealth of ...