Trump's Trade Wars

Eli,

My view on tarriff's is not much different than many who oppose them. Like these guys: Economists Against Smoot-Hawley. Or this guy: “We’ll Injure Ourselves If You Injure Yourself!”

I was hoping the knee-jerk Anti-Trumpians protectionists like Rosa De Lauro and Sherrod Brown would automatically oppose these misguided taxes on consumers, but alas, no.

It's an odd thing to me that people who mostly see the benefit of allowing consumers to buy groceries from whatever retailer serves them best find it anathema to allow consumers of steel and aluminum to buy from whatever retailer serves them best because: "unfair trade," and "jobs." It matters little to them that if I am forced to pay more for a product with steel in it I'll be forced to forgo consumption of some other product, so the job saved/job lost calculus is murky, at best. And "fair?" China wants to tax their citizens in order to give me cheap steel. We'll make that "fair" by increasing prices for our consumers. It's odd logic.

It is futile to expect politicians, of any party to be economically literate. Reagan imposed tariffs on autos, and my guess is all of them have done some sort of silly market distorting action like minimum wages, tariffs, supporting one industry over another, "green" energy for instance. Economic ignorance is a true bipartisan achievement.

I have little sympathy for those in Congress bemoaning the President's actions. The Constitution gave tariff power to Congress, not the President. Then Congress passed legislation giving that power to the President. Don't like it? Change it.

No President or Congress will get it right completely. I just hope they get more right than wrong. So far, in my opinion, Trump and the GOP have gotten more right. But it's early.

Bill