Yes, Tariffs Reduce Imports, but They Also Reduce Exports

In this episode of the Human Action Podcast, Bob unpacks Lerner’s Symmetry Theorem—the classic result that, under tight conditions, an import tariff is equivalent to an export tax. He applies the framework to recent 100% China‑tariff headlines, explaining why the dollar might strengthen in theory yet sometimes weakens in practice once retaliation and policy signaling are factored in.

• The Human Action Podcast on Trump’s Tariff Strategy: Mises.org/HAP522a
• The Lerner Symmetry Theorem: Mises.org/HAP522b

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