Trump Tariffs Achieve What Economists Said Was Impossible
The Wall Street Journal’ s headline on Thursday’s trade data declared that “America Imported a Record Amount Last Year Despite Seismic Trade Policy Changes,” emphasizing that the annual deficit “was little changed” and concluding that the tariffs “did little to dissuade Americans from importing.” Bloomberg declared: “US Notches One of Its Biggest Annual Trade Gaps Since 1960.”
Sounds scary enough to make some doubt that President Trump’s tariffs were having any effect at all. Maybe all those anti-tariff pundits were right and tariffs could not rebalance trade. That, of course, is…
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