Source: Cobden Centre
by Tim Worstall
“The point of tariffs is not to make those things made by evil Johnny Foreigner more expensive. It is to enable the domestic capitalists to raise the prices of their domestically made goods: ‘HS2 firm says new steel tariffs will ‘exacerbate’ cost pressures for UK construction industry’ Doubling tariffs on imported steel will raise cost of the metal when Iran war is already inflating steel and concrete prices This is not an error nor a happenstance: it’s the whole and precise point of the act itself. … So, let’s not do that. Let’s not make everything in the country more expensive just to benefit that fraction of the 1%.” (03/31/26)
https://www.cobdencentre.org/2026/03/but-this-is-the-very-point-of-tariffs/