The Tariff Shakedown: Economists Warned Us
In a weekly newsletter called The Stepback, which arrives in our subscribers’ inboxes at 8AM ET, the focus has been on the real-world effects of Trump’s tariffs. The warnings from economists and trade policy experts were clear from the beginning: tariffs would likely raise consumer prices and fail to deliver the promised American manufacturing renaissance.
The Warnings
As Mia Sato has reported, the economists tried to warn us. Back in February, experts cautioned about the potential impacts of high tariffs. The Trump administration’s trade policies were met with skepticism, as many predicted that these policies would lead to negative economic consequences. The core concern was that tariffs would increase consumer costs, rather than fostering the manufacturing growth that was promised.
The Impact
The core issue, as highlighted by The Verge, was that tariffs were poised to disrupt existing trade relationships. This, in turn, was expected to drive up prices for consumers. The anticipated outcome was not a manufacturing boom, but rather a shift in the economic landscape. The Stepback has been exploring these complex issues.
The experts’ concerns have been validated, as the economic effects of these tariffs have become increasingly apparent. The situation remains a topic of ongoing discussion and analysis.
Source: The Verge
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