Tariffs can serve the beneficial function of leveling the trading playing field when exports from, say China, have benefited from government subsidies. The world’s output and thus wealth is maximized when competitive trade (domestic and/or international) uses its labor and capital most efficiently. The rules of the World Trade Organization permit tariffs of this sort.
President Trump has taken a very different approach, which yesterday’s Supreme Court ruling against most of his tariffs has slowed. Trump, typical of his general bully approach to relationships, threatens or enacts tariffs totally unrelated to their proper purpose to make trade fairer. He uses them to gain concessions from other countries totally unrelated to economic efficiency. These, like his bullying more generally, are very damaging to American interests and well-being. As a private business man, his bullying approach resulted in six bankruptcies.
Rather the repeat the arguments I posted earlier I will direct you to some of my earlier comments and a few from others:
Trump’s disregard of the law in the area of tariffs is not all we should be concerned with and push back against. In addition to his nasty treatment of our “Allias,” his corruption is shockingly extensive and very open as is his disregard for the law. Congress needs to wake up and do its job:
https://www.thefp.com/p/the-economy-can-survive-tariffs-not
P.S. I have not mentioned his childish ego expressed by adding his name and face all over the place. It is merely embarrassing, which we can survive.
P.S.S I have also not mentioned Trump’s serious damage to our national security from his war and threatened wars not authorized by congress as required by the constitution (in search for the Nobel Peace Prize??!!)
Warren's space 