One of the arguments given in favor of tariffs is that they will enable domestic manufacturers to better compete with producers abroad. While people may believe that to be true, the problem is that tariffs don't create a good foundation for capital development.
Thanks to President Trump‘s brinkmanship, tariffs are in the headlines. However, while the public knows about tariffs, few people actually understand them, their history, and how they work.
Mark Thornton exposes the real threat to our economy—and it’s not what you’ve been told.
Although he has temporarily suspended his threatened tariffs, President Trump‘s demands for “fair trade” make no sense economically speaking. Trump‘s demands of Vietnam alone are beyond head-scratching.
Trump economic adviser Peter Navarro has condemned multi-billion-dollar investments by BMW in South Carolina as “bad for our economics.” The comments reflect a greater ignorance of capital goods by so-called economic experts.
While President Trump‘s tariffs certainly are causing economic harm, they alone could not cause a recession had there not already been years of artificial credit expansion.
Tariff supporters claim that implementing tariffs will result in new jobs at home. What they fail to point out is that many people depend upon imports for work. The tariffs on Canadian aluminum imports are a case in point.
While President Trump‘s tariffs certainly are causing economic harm, they alone could not cause a recession had there not already been years of artificial credit expansion.
Mises Institute President Thomas DiLorenzo joins NTD News to break down the real impact of Trump's tariff policies.
Frederic Bastiat is an often unsung hero of 19th-century economic thought. His lessons on freedom and trade are timeless and what he wrote nearly two centuries ago is still relevant today.
