Acton Institute Powerblog Archives

Post Tagged 'tariffs'

Fact check: the second presidential debate of 2020

President Donald Trump and former Vice President Joe Biden faced off for their second and last  debate of the 2020 campaign season on Thursday night at Belmont University in Nashville. The candidates offered viewers a far more staid and substantive exchange than their first debate – a low bar, to be sure. Continue Reading...

6 facts about the brewing U.S.-EU trade war

Late last week, President Donald Trump announced he would impose steel and aluminum tariffs against U.S. allies across the transatlantic sphere. Here are the facts you need to know: President Trump applied a 25 percent tariff on steel and a 10 percent tariff on aluminum against the European Union, as well as NAFTA trade partners Canada and Mexico. Continue Reading...

Protectionism leads to turmoil, strife, and disorder

Proponents of protectionism often ground their support in a quasi-nationalism; trade should be restricted for the benefit of the nation. Economically, the argument holds little weight. The benefits of more trade, like more and cheaper goods, outweigh the costs, like some temporary unemployment that results from the closing of a factory that couldn’t compete with foreign companies. Continue Reading...

The immorality of tariffs

The benefits of free trade are vast, and enjoyed throughout the world.  The alternative — trade restricted by protective tariffs and quotas — concentrates benefits to a protected few who profit due to less competition from foreign competitors. Continue Reading...

In Defiance of Logic and Good Sense

Last Friday, the New York Times editorialized in critique of American tariffs, which it says “raise the price of goods and are all too often based on outdated political considerations that defy logic and good sense.” Continue Reading...