Technical Review

Tit for Tat Tariffs

I’m not a fan of using tariffs as a blunt instrument or protectionism.

The Peterson Institute for International Economics estimates that free trade after 1950 cumulatively boosted the U.S. economy by $2.6 trillion, or $19,500 a household. A 2021 study by Oxford Economics and the U.S.- China Business Council showed that President Trump’s tariffs and trade policies destroyed 245,000 jobs in his first term as president. The Tax Foundation estimates President Trump’s and President Biden’s tariffs reduced long run Gross Domestic Product by 0.2%—roughly $58 billion annually.

...

About the Author

Founder
jimwelshmacro [at] gmail [dot] com ()
randomness