What the Tariff Haters Got Wrong
One year after Liberation Day, it’s clear that the critics and panicans were largely wrong. This wasn’t the return of Smoot Hawley or the trade wars that contributed to the Great Depression. Trump’s tariffs did not isolate America. Instead, they integrated other countries more deeply with the U.S. economy , bringing us closer together rather than pushing us apart.
The early panic held that tariff escalation would leave the United States stranded behind what Reuters, quoting analysts, called an “economic moat around the U.S.” and perhaps even “quite isolated.” What actually happened was that trade diverted away…
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