Once again, the mainstream media is lambasting the idea of reciprocal tariffs on countries that take advantage of the U.S.
On one page in Newsday last week, there were two articles blasting the idea of tariffs. An article entitled “Tariffs on autos raise concerns on Long Island” was above another entitled “Trade war a drag on shares of US automakers.”
Both headlines are accurate, but it doesn’t tell the whole story. For instance, nowhere was there an article about how the tariffs have sparked auto majors to bring their production sites back to the U.S.
Yes, it’s accurate to say that some tariffs can increase costs in some sectors of the economy in the short term, but to be fair, they also must show what the potential economic boom can be by creating millions of jobs throughout the U.S. due to the new incentives the administration have putting in place. That will ultimately raise the stock prices of American automakers and lead to a strong economy. Fair tariffs will also open markets for our manufacturers.
Free trade is preferable over trade wars, but the worst of all worlds is a situation where foreign countries make it impossible for our products to be sold there, but we allow their products to overwhelm our nation and put our manufacturing base out of business. Fair trade is the best trade.