Killing Trade

A Measure of How Destructive Trump’s Tariffs Would Be. By Erick Erickson

http://theresurgent.com/a-measure-of-how-destructive-trumps-tariffs-would-be/

Excerpt:  The New York Times has a fascinating in depth piece on the iPhone factory in China. My guess is that this piece has a lot to do with building the case against Trump’s tariffs. If not, it should. Because it shows just how economically devastating Trump’s tariffs and the subsequent trade war would be.

Tariff disaster offers a lesson on the folly of protectionism. By Thomas Sowell

http://articles.baltimoresun.com/2005-06-16/news/0506160077_1_tariffs-smoot-hawley

Excerpt: The Hawley-Smoot bill raised U.S. tariffs to record-high levels in an attempt to protect existing jobs and in hopes of helping the unemployed find work producing things that the United States had previously been importing from other countries. Many businesses were in favor of the new tariffs, hoping to retain or expand their markets, and farmers were especially big supporters of Hawley-Smoot. Most of the leading economists in the country were opposed. A front-page headline in The New York Times of May 5, 1930, read: "1,028 Economists Ask Hoover to Veto Pending Tariff Bill." Those signing this public appeal against the new tariffs included many of the top economists of the day - 25 professors of economics at Harvard, 26 at the University of Chicago and 28 at Columbia.