Friday, March 28, 2025
Tariffs
There are times, in my opinion, when tariffs are absolutely necessary. The solar panel industry is a good example. China was greatly subsidizing solar panel manufacturers in their country. These products were being mass produced and sold at a price in other countries that could not be matched. U.S. companies suffered greatly and many went out of business. This left Chinese companies with a gigantic advantage and even led to price increases. This is a concrete example of when tariffs are absolutely justified.
Today's use of tariffs are absolutely not justified. Blanket tariffs on other countries does not work and is adversly impacting our relationships with other countries. Effective use of tariffs must be calculated, well thought out and surgical in their use. There is no doubt, in my opinion, that tariffs will raise prices, contribute to increased inflation and alienate many of our allies in the world today. Trade can be an important part of increasing the chances for world peace. Today's trade policies are achieving the exact opposite.!
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