Every President Tries It. It Never Works.

A year ago President Trump declared “Liberation Day,” unleashing the highest tariffs in more than 80 years in an attempt to end a system under which, he argued, “foreign leaders have stolen our jobs, foreign cheaters have ransacked our factories and foreign scavengers have torn apart our once-beautiful American dream.” To prove that he was turning the tide, he offered one impressive statistic: In one month, he said, “We created 10,000 — already, in a few weeks — new manufacturing jobs.”