Sequels are always worse than the original
Sequels are never as good as the original. And when the original was terrible, there is even more reason to dread the next episode. So it is with “Tariff Man Part Two”. In the White House, Donald Trump put more new tariffs on American imports than any president in nearly a century. His philosophy was simple: “I am a Tariff Man. When people or countries come in to raid the great wealth of our Nation, I want them to pay for the privilege of doing so.
The cons of tariffs are big. Ahmad Lashkaripour of Indiana University estimates that a global tariff war would shrink American gdp by about 1%. Most countries would suffer falls closer to 3%. The drag on smaller, trade-reliant economies would be greater still. Tariffs are also regressive since they hurt those on lower incomes twice.
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