Free Minds & Free Markets

Trump’s Economic Ignorance on Tariffs: New at Reason

Todd KraninTodd KraninAnother week, another bumbling trade declaration from President Donald Trump. After a very confrontational G-7 meeting, observes Veronique de Rugy, Trump threatened to cut all member countries—Canada, France, Germany, Italy, Japan, and the United Kingdom—off from the U.S. market if they don't reduce their tariffs on American exports. He told the press, "It's going to stop, or we'll stop trading with them."

As a reminder, this whole drama started when President Trump imposed stiff steel and aluminum tariffs on everyone, including our closest trading partners, friends, and security allies. Adding insult to injury, he argued that imports from these friendly countries are a security threat to the United States, even though the Department of Defense said they are not.

The president's ignorance about economics and trade is well-documented. These recent threats are yet more evidence.


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