The Ethos of Economics with John Cogan and Kevin Warsh | Peter Robinson | Hoover Institution
Uncommon Knowledge
The Lighthizer Attack Translates Into a Policy of Protectionism
So the Lighthizer attack translates into a policy of protectionism. Right. And so we think of these protectionist policies as restrictions on individual liberties, like restrictions on what makes an economy grow. But we don't see it because it's spread across the entire economy When we impose a tariff on imported goods, the price of imported goods rises. So even those domestically produced goods, their costs rise. Something like 60% of all imports are inputs into US production. That includes glass from Mexico that goes into American cars. The increase in...
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