Paul Krugman is one the best sources for understanding the economy. I suggest that one subscribe to his newsletter; it is free.
Elizabeth Warren
So let me set the table just a little bit. I think that tariffs can be a useful tool in the economic toolbox. Right now in the United States, if you have a prescription filled, there’s a 9 out of 10 chance that it was manufactured overseas, probably in Asia, and that even if it was manufactured in India, most of the ingredients came from China.
You know, that’s a pretty dangerous place for us to be. We get into some back and forth with China and all of a sudden there are no antibiotics for little kids with ear infections. So that can be a place where you put tariffs in place because you want to build a supply chain here in America. You’re targeted about it, you know what you’re trying to do, and you do it. You follow through and you make it stick.
Donald Trump’s attempt at tariffs is just dumb. It’s broad. It makes no sense. What do we gain by putting a big tariff on lumber from Canada, except that the cost of building a new house goes up?
