North American Free Trade Agreement

Tariffs are job-killers

Tariffs are job-killers

Retaliatory tariffs rarely, if ever, work. That’s been proven time and again. When President Barack Obama tried that approach with Chinese-made tires during his first term, the results were predictable — a slight increase in domestic tire production and perhaps hundreds of jobs saved or created after the tariff was implemented in September 2009 but at an enormous cost to U.S. consumers in the neighborhood of $1.1 billion as well as a counter-attack by China, which slapped a costly tariff on U.S. poultry imports. According to one economic analysis, U.S. consumers essentially paid $900,000 per tire manufacturing...