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Fortune

Alena Botros

Trump tariffs are ‘a recipe for making Americans worse off,’ Cato Institute says

Donald Trump Fortune Cato Institute

(Credit: Shawn Thew/EPA/Bloomberg via Getty Images)

A libertarian think tank is warning tariffs mean higher prices and fewer goods for Americans, and the broader they are, the more prices will increase. Any other explanation for tariffs doesn’t track with economics, the Cato Institute claims.

Fox Business Network host Larry Kudlow recently shared a hypothetical in which the price of one good goes up but the price of another goes down because people have less to spend. It was a defense of President Donald Trump’s tariffs. The Cato Institute, a libertarian think tank cofounded in 1977 by billionaire Charles G. Koch, doesn’t share that perception.

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