Trump's Tariffs

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Status: In Progress  |  Genre: Editorial and Opinion  |  House: Booksie Classic


Trump's tariffs will have an incredibly negative impact on the economy.

Submitted: March 08, 2018

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Submitted: March 08, 2018

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President Trump is not backing down from his position on tariffs according to multiple media reports. The president is proposing a 25 percent tariff on imported steel and a 10 percent tariff on imported aluminum. If the proposed tariff is actually implemented, this could mark the worst policy decision yet made by President Trump. What a tariff does is it helps one industry at the expense of all other industries. This tariff will undoubtedly help American steel and aluminum industries, but it will punish all other American industries that use steel and aluminum as means of production because a tariff is essentially a tax on the consumer. What generally goes unnoticed after a tariff is implemented is the jobs that are lost as a result. Trump supporters on social media are touting the fact that a few specific companies have said that they will add new jobs in the U.S. because of the tariff, but they ignore the fact that the cost of production for other industries such as the beer industry will rise drastically. If the cost of production goes up, jobs will necessarily be lost.

President Trump’s proposed tariff plan puts Republican members of congress in a very difficult situation. Republicans can stick to their principals and get on Trump’s bad side, which could turn out to be electoral disaster because Trump’s base is upset with them. Conversely, they can support a bad idea, get Trump and his base’s support in the midterm elections and pay the electoral price later when these tariffs damage the economy. The third option is that this doesn’t matter because the country is so polarized that they will just vote for their party just so the other side loses.


© Copyright 2018 Shmuel Wyckoff. All rights reserved.

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