Nothing else gets the same attention. Inflation, unemployment claims moving lower? Wait'til tariffs kick in, chants the chorus. Oil prices down? Manufacturing increasing? Money coming in from overseas? But those tariffs... Given the blowback, why is Trump pushing so hard to raise the fees paid on U.S. imports?
First, because he thinks the U.S. has been treated unfairly over time by our trading partners. Second, because he wants higher tariff revenues to help offset promised tax cuts. And third — most important — because he wants to make it more attractive for companies to manufacture in the U.S.
It would be hard for anyone, even Democrats, to oppose those ambitions. But oppose them they do.
Let’s start with the president wanting to level the trade playing field. Lost in the hysteria about a "trade war" is that many countries have already waged war against the U.S. — and won.
Take Canada, the "nice" neighbor to our north.
RTWT, supposed to be a five-minute read - minus what you've already read.