Wayne Allyn Root’s March 8 column defends the president’s steel and aluminum tariffs. He, like the president, scoffs at the dangers of a trade war.
I doubt that Mr. Root has read in full the arguments by economists — left and right — who strongly oppose the tariffs. Their principal argument is that tariffs don’t do what they’re designed to do — that is, help American workers. Strong and convincing analysis shows that over the long haul, U.S. manufacturers will be less competitive.
I don’t know why one’s guru in this area is Donald Trump, who has little theoretical background in macroeconomics.
I do know that once a trade war starts, it’s like a snowball rolling downhill. Bigger and bigger. More and more momentum. See the 1930s.