The Real Pain of Tariffs

February 4, 2025, Opinion: "When he announced sweeping tariffs on our three largest trading partners on Sunday, President Trump admitted that they would cause “some pain.” He seems to have since recognized this as an understatement, postponing the proposed tariffs on Canada and Mexico—possibly indefinitely—in exchange for no meaningful new commitments on their part. Still, early Tuesday morning large and poorly targeted tariffs did go into effect on China, and more tariffs on allies remain a possibility, even the threats of which have serious economic costs."