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Tariffs Do Not Help

On Friday President Obama decided to levy tariffs on Chinese tires imported into the United States.  While this action is supposed to "protect" jobs it will force consumers to pay more for their tires and possibly lead to retaliation from China that could lead to more job losses.  Even if there is no retaliation the money spent on higher-priced tires will not be spent on other goods - the benefits are illusory.  The Washington Post reported on this issue here.  Sound economic principles tell us that tariffs do not help, but Obama has demonstrated before that he is not interested in following sound economic principles.

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