Tariffs Are Working, Author Says
President Trump's tariffs are working so far, according to one author, who says the president used tariffs in his first term and the cost of living went down
,contain(32,32),quality(65))
woai.iheart.com
You sometimes hear that President Donald Trump's tariffs are causing inflation, or will cause it, or could cause it, but so far the numbers show that US tariffs are working for the economy.
That's what writer and author of the book, "Reshore: Tariffs Will Bring Our Jobs Home and Revive the American Dream," says.
Spencer Morrison says they're economic tools that will slowly get the United States back to a good place of political and economic independence.
"The tariffs are not inflationary, we saw this in President Trump's first term," he says.
"President Trump proposed pretty significant tariffs. Did the cost of living go up or did it go down? Well, we all know it went down."
It's possible that the people who are convinced that tariffs will hurt the US either don't understand how they work or they have a lack of confidence in the power of US markets.
"One in four foreign companies are eating 100% of the cost of the tariffs, and then most of them are falling somewhere in the middle," he adds.
