> Tariffs increase prices to the benefit of domestic producers and benefits everybody. Not necessarily, and there are plenty of examples around the world of ta

> Tariffs increase prices to the benefit of domestic producers and benefits everybody. Not necessarily, and there are plenty of examples around the world of tariffs that do not do that, but instead cripple the economy. Tariffs are just one aspect. If the domestic supply is not there for one reason or another, you have the worst of both worlds, with high prices and still no re-industrialisation. You need companies to be reasonable confident that they’ll be making money next year, and you need the situation to be stable enough to let people invest to make it happen. You need those people to be confident enough that they won’t just be crushed by a president’s friend who has more access to power than they have. You need rule of law and due process. Not a kleptocratic oligarchy. Otherwise you’re just sawing off your leg to repair a broken ankle.