The Wharton School of University of Pennsylvania must be embarrassed.
Tag: protectionism
Protectionism is bad economic policy
Just like the economic policy of Herbert Hoover, Trump’s “America First” economic policy was all about using tariffs to encourage domestic production of goods. Trump hoped that reducing the trade deficit, which is when a nations imports more goods than it exports would bring manufacturing jobs back to the United States. For quite a while now, the United States has faced an increasing trade deficit and this is bad for workers because it pushes wages down.