President Trump's approach to tariffs has fluctuated, with recent pauses and implementations regarding imports from Canada, Mexico, and China causing economic concerns. While he may be reviving the protective trade measures favored by America's Founding Fathers, potential downsides loom. The Yale Budget Lab indicates the upcoming tariffs might decrease U.S. household purchasing power by $1,250 and shrink the economy by 0.2%. As Americans feel the economic strain, voters could shift blame to him for rising prices on essentials, complicating his political situation amid rising inflation and concerns over immigration.
America's Founding Fathers were more open than the Journal's editorial board to the virtues of protectionism. The Tariff Act of 1789...was the first major bill.
Before Trump's Monday reversal, the Yale Budget Lab estimated that the looming tariffs would reduce purchasing power per U.S. household by $1,250 on average.
Trump conceded that the tariffs may bring 'some pain' for Americans, indicating potential economic repercussions for his supporters.
If new tariffs cause Americans to pay more for groceries, sneakers and cars, then voters may start to blame Trump for high prices.
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