Trump's trade policies will lower the standard of living for most Americans

NY Times:

Trump Trade Policy Breaks With 200 Years of Orthodoxy

Add a few “whereins” and “whences” to Donald J. Trump’s call for higher import taxes as a defense against low-cost imports, and his sentiment fits theories of mercantilism from centuries ago.
It will hurt not only consumers who purchase imported items, but also exporters like farmers.  One of the reasons Trump lost Idaho was the fear by the potato farmers that retaliation to his policies would close overseas markets to their crops.  The cost of goods manufactured in the US might increase, but it would be at the expense of consumers.  It is the opposite of smart policy.


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