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Who Really Pays the Tariffs? U.S. Firms and Consumers, Through Higher Prices

When the Trump administration imposed tariffs on various imports in 2018, the stated purpose was to boost U.S. industries and punish foreign exporters. But rather than hurting foreign exporters, the economic evidence shows it is American firms and consumers hardest hit by the Trump tariffs. The tariffs resulted in higher prices for a wide variety […]

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Trump-Biden Tariffs Hurt Domestic Manufacturing

Boosting American industry is a policy objective shared by many lawmakers and is a key issue at debate in the Build Back Better Act as well as other year-end legislation. Missing from the debates is how the tariffs put in place by the Trump administration, and largely maintained by the Biden administration, are negatively affecting […]

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Repealing Tariffs Would Be a Simple Option to Boost U.S. Economic Growth

Of the many tax policies modeled in our new Options for Reforming America’s Tax Code 2.0, repealing the tariffs imposed under President Trump’s administration would be one of the simplest ways policymakers could boost economic growth. Starting in 2018, the U.S. imposed tariffs on a variety of goods, including aluminum, solar panels, steel, and washers […]

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Biden Could Provide Business and Household Relief by Eliminating Trump Tariffs

One of President Donald Trump’s signature policy actions has been to engage in a tit-for-tat tariff war with America’s trading partners, and one of the big questions is what President-elect Joe Biden will do about that. First, a brief review of where things stand. Relying on rarely used sections of trade law, President Trump used […]