Trump’s Anti-Trade Policy

Trump wants to raise high tariffs to discourage trade with other countries. Such tariffs discourage imports. They also trigger retaliatory tariffs that discourage exports. Trump wants a buy-American policy. In other words, Americans should earn their living by taking in each others’ laundry.

Why won’t this work? By analogy, imagine a family that refused to have any trade with the outside world. They would produce everything they needed for each other. They would all quit their outside jobs. Why won’t this work?

~ Roedy (1948-02-04 age:69)