By Nick Baum
Today, President Donald Trump defied lots of international backlash and responses to deliver a recent set of tariffs on imported steel and aluminum. The tariffs, are to take effect as soon as possible, and Trump views the already occurring trade war as “good”, because for some reason, rising prices based on meaningless taxes is now “good”.
It wouldn’t be everyday where I hate a Trump decision, let alone an economic one, but Trump’s very controversial decision has crossed the line from “Trump controversial” to “Actually just stupid”.
He’s delivered tariffs on the two products, thinking that workers in the field will have a fairer chance. While this is true, and that promise will be determined, the cons outnumber the pros. Donald Trump’s chief economic advisor Gary Cohn resigned amid the new tariff plan, the Stock Market dived well down, and the European Union is already planning to launch tariffs of it’s own. Maybe next time, Trump needs to play it safe and learn from the history books, tariffs never work.
Sources: The New York Times, CNN, The Weekly Standard