Source: EconLog
by Piere Lemieux
“To analyze society and the economy, and especially if the goal is to coerce peaceful individuals, an understanding of basic economics should be a must. Economics is needed to think clearly about the social consequences of individual actions and government interventions. … The president doesn’t seem to understand that a tariff also leads to an equivalent increase in the prices of competing domestically produced goods — American cars in this case. This is precisely why domestic producers of tariffed goods are happy: higher prices for their own products will be protected against foreign competitors. A tariff ‘protects’ only if it allows domestic producers to get higher prices.” (03/31/25)
https://www.econlib.org/it-is-basically-holistically-intuitive/