Attention Economy


Wednesday, March 19, 2025

A History Lesson on Tariffs

Trump Needs a History Lesson About Tariffs
https://www.newyorker.com/news/the-financial-page/even-donald-trumps-historical-role-model-had-second-thoughts-about-tariffs
Trump loves to cite his historical role model President William McKinley, who was a steadfast protectionist—until a depression and a G.O.P. wipeout. 

Misunderstanding McKinley
https://www.foreignaffairs.com/united-states/misunderstanding-mckinley
Why the Gilded Age Tariff Model Won’t Work for Trump.
 
The Incoherent Case for Tariffs
https://www.foreignaffairs.com/united-states/incoherent-case-tariffs
Trump’s Fixation on Economic Coercion Will Subvert His Economic Goals.
 
Tariffs are not going to solve America’s ills
https://www.ft.com/content/ae84d7fc-5eac-4c97-b213-eab985db827a
Punitive import duties will neither reduce the US trade deficit nor boost employment in manufacturing.

Related:
PODCAST: Paul Krugman talks trade, industrial policy, and Trump
https://tradetalkspodcast.com/podcast/206-paul-krugman-talks-trade-industrial-policy-and-trump/