Can you avoid the cost of tariffs by buying only American-made products? Will tariffs promote domestic manufacturing while filling federal tax coffers? Is free trade killing jobs?
No, no, and certainly not, explains Daniel Hannan, a conservative member of the House of Lords in the United Kingdom and president of the Institute for Free Trade.
"Tariffs will push up the cost not only of the imported stuff obviously with the tariff but also that the domestic industries will raise their prices as well because they no longer have the competition," Hannan tells Reason. "And what does that mean? It means that every American has less disposable income. They've all got to spend more money to live at the same level that they were living at before without any gain."
