Economists are united in pointing out that tariffs on foreign goods are really nothing more than a tax on American consumers, but what fewer people understand is that Trump’s policy on trade is not really about revenue or even about economic protectionism. Matt Kibbe is joined by Phil Magness, senior fellow at the Independent Institute, to explain how the tariffs represent a unilateral expansion of executive power that is now being challenged by the courts. It’s important to remember that Trump will not be president forever, and sooner or later, a Democrat is going to occupy the White House again. At that point, Democrats will be more than happy to use these expanded executive powers in ways that will horrify Trump’s base.
Kibbe on Liberty