The debate surrounding tariffs has been oversimplified in current political discourse as a binary choice. Trump promotes across-the-board import levies to boost American manufacturing, while Democrats argue these proposals threaten the economy. The article highlights the need for a balanced approach, as excessive tariffs can harm, but so can eliminating them entirely. Trump's initiatives may result in negative economic consequences, fostering corruption and uncertainty. At the same time, the article critiques the liberal stance that all tariffs are detrimental, suggesting that past tariff reductions have also had harmful impacts.
While too few or too many tariffs can destroy economies, there is a Goldilocks zone that's just right. It's just being omitted from the conversation.
Trump's approach is more a power grab than a trade policy, one forcing his erratic decisions on America without the consent of Congress.
The likely result: unnecessarily higher prices, industry-crippling retaliation, an uncertain policy environment that paralyzes investment, ever-more rampant corruption and few enduring benefits for the domestic macroeconomy.
Liberals' suggestion that Trump's behavior proves all tariffs are bad and the existing tariff-free trade policy is ideal well, lived reality belies those arguments, too.
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