One of the biggest ways in which Trump’s populism is really at odds with free market conservatism is his belief that Americans will be better off with yuge tariffs that will keep out trade and force people to buy products at a higher price, but made by Americans.
And it looks like he’s about to impose his economic beliefs on the industries dependent on steel:
President Trump on Tuesday told lawmakers at the White House that he is considering new tariffs on imported steel and aluminum, warning that the domestic industries are being “decimated” by unfair trade.
“They are dumping and destroying our industries,” Trump said. “We can’t let that happen.”
Trump pushed back against several lawmakers who warned him the tariffs could cost U.S. jobs and hurt the broader economy.
“You may have a higher price, but you have jobs,” Trump said during the nearly hourlong meeting, which included lawmakers from both parties.
The White House meeting was scheduled as closed to the press, but Trump let reporters remain in the room. That allowed for an unusual public airing of the tensions between Republican lawmakers and the president on trade.
Republicans have been particularly outspoken on trade issues, repeatedly calling on the president to remain in the North American Free Trade Agreement.
That free market economics improve everyone’s standard of living is a pretty straight forward argument that has been proven by many studies, but it’s hard to justify when certain regions of America take the brunt of the economic “creative destruction.” And we give the people who live in those regions no reason to give a damn about everyone else who benefits from those transfers of economic prosperity. And that’s how Democrats in poor rural white enclaves decided to vote for Trump in 2016….
I’m not saying there are easy solutions here. I’m saying get ready to pay way more for everything because of Trump making America Tariffy again.