Independence Day: Regurgitation

oh160219You know how Trump gets Mexico to pay for the wall? He slaps a 40% tariff on goods out of Mexico. Of course the result of that is that trade with Mexico plummets (after the Mexican’s retaliate with their own tariff) and the proceeds from the tariff slow to a trickle. Meanwhile American consumers pay more for goods and services they used to get cheaper from Mexico.

Free trade is ugly, destabilizing and clearly hurts some American workers who can’t compete with cheap foreign labor. But it’s infinitely better than the high tariff alternative.

You know how Trump gets Mexico to pay for the wall?

He doesn’t.

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