Part 11/19:
Raposa emphasized that, despite initial concerns, these tariffs are designed not necessarily to raise consumer costs significantly but to incentivize fairer international trade practices. For example, tariffs on European imports like BMWs or Japanese vehicles aim to balance the scales without completely disrupting supply chains.
The Economic Case For and Against Tariffs
Supporters, including those at the Coalition for a Prosperous America, argue that tariffs are essential to protect US industries that face unfair competition due to lower labor costs, weaker regulations, and currency advantages abroad. For example, US beef producers have seen a surge in imports from Mexico and Brazil, harming domestic farmers.