When former President Donald Trump was asked about his plan to lower the cost of groceries, he said that he would slap tariffs on foreign food imports.Scott Lincicome and Sophia Bagley of the libertarian Cato Institute, however, believe Trump's plan is "deranged" and they write in The Atlantic that ...
I’d quibble with calling it “deranged”. Illogical sure. Nonsense, even ridiculous, but not deranged.
His only real play has always been to define a scapegoat and stoke outrage. That’s the point here, rather than anything useful
No, slapping tarrifs on imported goods means they become more expensive as the tarrifs will be included in the price.
If you think that american companies that produce domestically (untariffed) will not raise their prices to maximize their profits you might have what Trump has. Plus a lot of their raw materials/components come from abroad and will also be tariffed.
Laat round of tarrifs Trump imposed led to retaliatory tarrifs by china. This hurt the US farmers so hard that most of the us tarrifs revenue went to farmers as subsidies.