The case for Donald Trump’s tariffs
1 month ago

The case for Donald Trump’s tariffs

CNN  

New York CNN — President-elect Donald Trump views tariffs as a not-so-secret weapon — one that can be deployed to pressure friends and foes alike to address issues from drug trafficking and illegal immigration to threats to the dominance of the US dollar. Trump once dubbed himself “Tariff Man” and recently celebrated these import taxes as “the greatest thing ever invented.” Trump’s love of tariffs — and, more specifically, the threat of tariffs — reflects a high-risk, high-reward strategy that’s designed to build maximum pressure on other nations, forcing them to come to the negotiating table. “It’s a dangerous game, one that could work,” said Moore, author of “The Trump Economic Miracle.” “In his first term, President Trump instituted tariffs against China that created jobs, spurred investment, and resulted in no inflation. Within days, Canadian Prime Minister Justin Trudeau was pictured at Mar-a-Lago, where he said he had an “excellent conversation” with Trump.. During his first term, Trump threatened to impose tariffs on imported automobiles, a threat that got the attention of Japan, a nation whose economy depends on selling cars to Americans. Dean Baker, co-founder of the left-leaning Center for Economic and Policy Research, said Trump could score some short-term wins by threatening to “beat up” Mexico and Canada with massive tariffs.

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