In the last 70 years, tariffs have never accounted for more than 2% of total federal revenue in a year. What originally began as a source of revenue for the federal government has today turned into a tool to develop domestic manufacturing and to negotiate in foreign affairs. Long-term, tariffs may bring benefits that outweigh the transitionary inflation effects.
The guys are talking tariffs this week, by reviewing the history of tariffs, how they came to be under the president’s control and what they actually mean in the grand scheme of national economy and politics.
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