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Tariffs and other trade restraints hurt the economy: both producers and consumers. They should only be reserved for cases in which they can coercive foreign policy tools as in Russia and Iran. Trump has further worsened matters by creating tremendous uncertainty that has reduced investment and production: producers and investors have severely reduced ability to plan for the future. The stock markets have reflected this by falling. This harms retirees by reducing the values of their portfolios. Trump has dramatically increased the risk of a recession. His other policies are damaging long run growth worldwide.
Free trade made the American Economy the strongest in the world. International collaboration allows America to focus on the work that we do best while letting other countries focus on things that we do poorly. This simultaneously produces better wages for us while also lowering the cost to buy things.
Trade Policy Feedback
Trade Policy Feedback
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