"Tariff is the most beautiful word in the dictionary," says Donald Trump, who made many promises throughout the 2024 presidential race to raise the cost of imports from China, Mexico, and Canada—America's three biggest trading partners. But are Trump's tariffs a good idea or a terrible one? And is the era of free trade coming to a close?
That's the topic of today's Reason Interview. Reason's Nick Gillespie talks with Dartmouth economist Douglas Irwin, author of Trade Policy Disaster: Lessons from the 1930s and Free Trade under Fire, now in its fifth edition. They talk about the negative impacts of the tariffs that Trump levied in his first term; why Presidents George W. Bush, Barack Obama, and Joe Biden also trafficked in protectionism; and why free trade is always under attack despite its overall benefits.
