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Reason
Reason
Joe Lancaster

Milton Friedman Disproved Trump's Argument for Tariffs Decades Ago

Commerce Secretary Howard Lutnick appeared before the House Appropriations Committee on Thursday, fielding questions about the current presidential administration's trade strategy.

Rep. Madeleine Dean (D–Penn.) pressed Lutnick about President Donald Trump's "chaotic tariff policy." She held up a banana, imports of which are currently taxed at 10 percent. "Walmart has already increased the cost of bananas by 8 percent," she noted.

"There is no uncertainty that if you build in America, and you produce your product in America, there will be no tariff," Lutnick said. "The concept of building in America and paying no tariffs is very, very clear."

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