The Truth About Tariffs: Who Pays and Why It Matters | This Week's Economy Ep. 140

Tariffs are a misguided way to raise revenue—and they’re already hurting Americans. Businesses warn that rising import costs are squeezing margins, consumers are paying more at the store, and uncertainty is growing as companies pause hiring and investment while they wait to see what tariffs come next. As of this recording, the Supreme Court has an opportunity to set an important precedent: the president cannot impose taxes by executive order. If the Court affirms this ruling, it will be a win for constitutional order and taxpayers alike.

But this moment didn’t appear out of nowhere. For decades, Congress has steadily handed its trade and tax authority to the executive branch—granting presidents of both parties broad tariff powers with little oversight. What began as narrow tools has evolved into sweeping authority used to manage the economy, wage trade wars, and pressure allies. Administrations have leaned on tariffs as a fix for real concerns, and every time, Americans have paid the price.

In this episode of This Week’s Economy, we’re going to break down how we got here, why tariffs create more problems than they solve, and the constitutional, economic, and strategic policy reforms that would actually help American workers, businesses, and families. For more insights, visit vanceginn.com. You can also get even greater value by subscribing to my Substack newsletter at vanceginn.substack.com. Please share with your friends, family, and brader social media network.