Time (or Buying American) Won't Erase the Economic Harm of Higher Tariffs
taxfoundation.org
Contrary to the president’s promises, the tariffs will cause short-term pain and long-term pain, no matter the ways people and businesses change their behavior.
  • While tariffs would raise revenue for the US government, that revenue would come at a high cost to the American economy overall.
  • Tariffs are redistributive. Some domestic producers benefit but at the expense of other people and businesses in the domestic economy.
  • History shows tariffs raise costs and prices and lead to lasting economic harm such as lower production and living standards, whether we keep importing goods or switch to domestic alternatives.