This is precisely what “Saint” (tongue firmly in cheek!) Ronnie Reagan warned us about in 1985: tariffs lead to retaliatory return tariffs.
And American families, workers and employers pay the brunt of the price. So too, again tonight as I ride the trains home from Midway Airport. Here is the latest, per the NYT:
. . .Mark Carney suspended talks and will take out retaliatory tariffs against the United States after days of negotiations to stave off new levies by the Trump administration ended in an impasse….
Crucial trade talks between the United States and Canada to stave off punishing new tariffs by the Trump administration on Canadian goods collapsed late Friday, with Canada saying it would retaliate “dollar for dollar…”
Geez — what a feckless, and senile putz this Trump guy is.
And note that Hinderaker says zero to defend tariffs. Hilarious!
नमस्ते
[And an ad — in Canada, from last year’s World Series —- as it runs on YouTube below.]
“When someone says, ‘Let’s impose tariffs on foreign imports,’ it looks like they’re doing the patriotic thing by protecting American products,” Mr. Reagan’s voice narrates over a video of generic images of economic activity. But, the audio warns, tariffs cause damage. “Markets shrink and collapse, industries shut down and millions of people lose their jobs….”
Powerline Lies... 