Going wrong with the Trump tariffs. @Veroderugy @Mercatus

May 26, 12:57 AM
C

AUTHOR.

(Photo:Political cartoon showing Thomas Brackett Reed as a boy, crying to Uncle Sam, with another boy pulling small wagon "pig iron, Kelley," while President Grover Cleveland trims "tariff, the protection hedge" to reduce the "surplus".

Date 1888

Source Harper's, by way of the Library of Congress Print and Photographs

Author W.A. Rogers )

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Going wrong with the Trump tariffs. @Veroderugy @Mercatus

https://www.mercatus.org/veronique-de-rugy

"The Trump administration seems committed to the folly of punishing the American people in the name of protecting special interest groups at home as evidenced by the department of commerce’s announcement of an investigation into the possibility of imposing national security tariffs on foreign cars. In fact, after the announcement was made, President Trump noted that domestic auto makers were going to be very happy. But what about consumers who outnumber producers and will be shouldering the burden of a new tariff?

This is an obvious abuse of section 232 tariffs. What national security threat is the President talking about? US automakers’ output in dollars and vehicles has been growing fast according to government data. But facts won’t matter, I suspect. The last time the President wanted to impose tariffs on steel and aluminum using section 232, the Department of Defense wrote a letter to say that it has access to all the steel and aluminum it needs and there are no national security risks. That didn’t matter to the President Trump who imposed steel and aluminum tariffs in the name of national security anyway.

The truth is that the Trump administration started with tariffs on steel, which increased the cost of domestic cars, and now it wants to jack up the price of foreign cars in order to mitigate the damages done to the domestic car industry caused by his own steel tariffs, all under the guise of national security.