The Only Thing Worse Than Tariffs Is Non-Tariffs

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The Only Thing Worse Than Tariffs Is Non-Tariffs

Well, you’ve gotta hand it to President Donald Trump. Trade policy is the topic du jour, with tariffs and tariff threats grabbing most of the headlines. When Trump announced 25% tariffs on steel and aluminum imports, my neighbor rushed out to replace her refrigerator, fearing rising prices.  The small slice of the population with a “Principles of Economics” textbook on their bookshelf looked up the chapter on tariffs, read a few paragraphs, shut…