Why Tariffs Won’t Save Us: The Misguided Economics Behind U.S. Trade Policy

The Tariff Myth: Political Promises vs. Economic Realities President Trump’s administration has convinced itself—and too many Americans—that trade imbalances are a mortal threat to our economy. They’re pushing tariffs as the cure-all, preaching that by taxing imports, we’ll ignite domestic demand, create jobs, and catapult GDP. This economic fairy tale, while politically popular, is built on a house of sand. The False Logic of “Buy American” At its core, the argument goes like this: when Americans buy American, dollars stay home, supposedly lifting domestic output and enriching our people. Trump echoes Abraham Lincoln’s homespun wisdom: “When I buy a coat from England, England has the money. But when I buy American, America keeps the money.” It’s a neat sentiment, but…