The Price of Tariffs (WSJ): “What do apples, pears, quinces, rice, T-shirts, trousers, bib overalls, blankets, stainless steel products, doors, men’s suits, windows, drums, cans and ink-jet printers have in common? They are all part of a much longer list of U.S. products that currently sell well in Europe but won’t in the future if they are slapped with 100% tariffs.... There is a way out. Mr. Bush could take advantage of his legal option to remove the steel tariffs in September, halfway through their original three-year life. This would have the added advantage of removing a glaring contradiction to the President’s campaign to lead the rest of the world in a new trade-opening round. It’s time to cut the losses on the worst mistake of Mr. Bush’s first term.”
WSJ gets it right
