Trump: 'Tariffs are the Greatest! Everybody's Talking!' | Eastern North Carolina Now

    Publisher's note: This informational nugget was sent to me by Ben Shapiro, who represents the Daily Wire, and since this is one of the most topical news events, it should be published on BCN.

    On Tuesday, President Trump fired off a tweet regarding his tariff policy, which has launched retaliatory tariffs from Canada, Mexico, China, and the European Union. His take: it's awesome.

Tariffs are the greatest! Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs. It’s as simple as that - and everybody’s talking! Remember, we are the “piggy bank” that’s being robbed. All will be Great!

— Donald J. Trump (@realDonaldTrump) July 24, 2018

    There are several things wrong with this tweet. First off, tariffs are not, in fact, the greatest. They lead to increased costs on consumers at home and trade barriers against American goods abroad. They are a tax on certain industries at the expense of other industries, and a tax on all consumers. The last politicians who actually thought this helped usher in the Great Depression. Harley Davidson has already cut its profit margin forecast; so has Whirlpool - and both companies blame Trump's tariffs. Trump's tariffs actually disproportionately affect precisely the areas he needs to win in 2020 to win re-election.

    Second, Trump defines being treated "unfairly" on trade not as another country placing tariffs on American goods, but as a trade deficit. This is idiotic. Trade deficits do not matter when it comes to fairness. You have a trade deficit with your grocery store and dry cleaner. They're not cheating you. You traded with them - they came away with your money, you came away with a good or service. Boycotting those companies and shopping at more expensive companies takes cash out of your pocket. Consensual trades are by definition fair.

    Third, everybody is talking. About the bird.



    Finally, we are not a "piggy bank" being robbed. This, again, relies on the completely idiotic notion that when we consent to trades, we wuz robbed so long as the other guy walks away with money. If Trump wants to talk about a piggy bank being robbed, perhaps he ought to look at our entitlement programs, which he wants to do nothing about.

    Larry Kudlow, call your office.