The Costs of Tariffs
This past year, the United States has been experiencing a welcome surge in economic growth. The economic successes America is enjoying is surely due to the hard work and ingenuity of the American people, the implementation of the Republican tax reform and President Trump’s initiative to bring American companies back home. In general, free trade contributes to our national prosperity as well. However, having open markets is not an invitation for others to take advantage of us. When bad actors exist, we have every right to use our power to protect our interests. I agree with President Trump that the U.S. is engaged in bad trade deals that were negotiated during previous administrations, and it is time to renegotiate the terms to support our own economy. The President’s recent announcement of tariffs addresses some of the issues the United States has with certain countries. Although I support taking action against some countries, we must be careful with the broadly-based terms of the President’s proposal. It could punish our friends and allies that we rely on and have existing, productive trade partnerships with. We must ensure that we target our actions carefully on countries and practices that violate current trade law.
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