The problem, of course, is that tariffs either can’t, won’t, or shouldn’t shift production back into the U.S. What they will do is increase costs for consumers and put higher paying jobs at risk.
Despite the unanimous ruling from the Court of International Trade, the Supreme Court will likely decide whether the International Emergency Economic Powers Act empowers President Trump to levy global tariffs. As this process will take time to play out, economic uncertainty will persist for the foreseeable future.
What isn’t uncertain is the adverse consequences that these tariffs will have. One oft-cited justification for the tariffs is the need to reinvigorate domestic manufacturing in the U.S. While this justification has no merit, something we return to later, the tariffs are not confined to products whose production can be re-shored. Products, especially agricultural products, that cannot be produced domestically are also targeted.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
Tariffs Either Can’t, Won’t, Or Shouldn’t Re-shore Manufacturing Jobs
Wayne H Winegarden
The problem, of course, is that tariffs either can’t, won’t, or shouldn’t shift production back into the U.S. What they will do is increase costs for consumers and put higher paying jobs at risk.
Despite the unanimous ruling from the Court of International Trade, the Supreme Court will likely decide whether the International Emergency Economic Powers Act empowers President Trump to levy global tariffs. As this process will take time to play out, economic uncertainty will persist for the foreseeable future.
What isn’t uncertain is the adverse consequences that these tariffs will have. One oft-cited justification for the tariffs is the need to reinvigorate domestic manufacturing in the U.S. While this justification has no merit, something we return to later, the tariffs are not confined to products whose production can be re-shored. Products, especially agricultural products, that cannot be produced domestically are also targeted.
Read the op-ed here.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.