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To: Thalean

https://www.thoughtco.com/the-economic-effect-of-tariffs-1146368

Study after study has shown that tariffs cause reduced economic growth to the country imposing them. A few of examples:
The essay on Free Trade at The Concise Encyclopedia of Economics looks at the issue of international trade policy. In the essay, Alan Blinder states that “one study estimated that in 1984 U.S. consumers paid $42,000 annually for each textile job that was preserved by import quotas, a sum that greatly exceeded the average earnings of a textile worker. That same study estimated that restricting foreign imports cost $105,000 annually for each automobile worker’s job that was saved, $420,000 for each job in TV manufacturing, and $750,000 for every job saved in the steel industry.”
In the year 2000 President Bush raised tariffs on imported steel goods between 8 and 30 percent. The Mackinac Center for Public Policy cites a study which indicates that the tariff will reduce U.S. national income by between 0.5 to 1.4 billion dollars. The study estimates that less than 10,000 jobs in the steel industry will be saved by the measure at a cost of over $400,000 per job saved. For every job saved by this measure, 8 will be lost.
The cost of protecting these jobs is not unique to the steel industry or to the United States. The National Center For Policy Analysis estimates that in 1994 tariffs cost the U.S. economy 32.3 billion dollars or $170,000 for every job saved. Tariffs in Europe cost European consumers $70,000 per job saved while Japanese consumers lost $600,000 per job saved through Japanese tariffs.
These studies, like many others, indicate that tariffs do more harm than good.


20 posted on 06/11/2018 3:53:42 PM PDT by TBP (Progressives lack compassion and tolerance. Their self-aggrandizement is all that matters.)
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To: TBP
Study after study has shown that tariffs cause reduced economic growth to the country imposing them.

Lie.

China is one of the most mercantilistic countries on earth; so that right there kills your theory, fairy tale, or lie.

24 posted on 06/11/2018 7:13:16 PM PDT by central_va (I won't be reconstructed and I do not give a damn)
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