“I can’t believe how many people are negative on tariffs that are actually smart people,” President Donald Trump told Bloomberg in a June 25 interview. “Economically, they’re phenomenal.”
Since then, a lot of smart people have rushed to the American media to say that, on the contrary, high tariffs are horrible.
Trump is right. Although these levies would increase costs to American consumers, the costs would not be nearly as great as experts say. Moreover, there are other considerations, both economic and national security, favoring raising tariffs now.
