How Tariffs Can Help America

The idea that more trade is good (on balance) is deeply engrained in anybody who went to graduate school in economics. In May 1930, over a thousand economists had written a letter encouraging President Hoover to veto the Smoot-Hawley bill. And yet there is something else economists do know but tend to keep closely to themselves: the aggregate gains

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Trump advocates the re-industrialization of America to help those who want good manufacturing jobs and those who wish to possess a strong military. To do so requires reversing the imbalances built under the Petroyuan system. This will be accomplished by weakening the dollar, providing tax grants and subsidies to produce things domestically, and der... See more

“There is no question that an American withdrawal from global trade – the gradual closure of the world’s largest consumer market and largest capital market – would impose significant costs at first on the rest of the world and eventually on the United States itself. If the United States retreats from its traditional role without agreeing on a new s... See more