Free Republic

The best tariff (tax on imported goods) equals zero — at least this is what standard economic theory says. However, such a rule is valid only when both trading partners are set at zero. If either side moves one iota above zero in tariffs, it makes its population pay for that move. So what happens when one party does not respond to an unfriendly move from zero to some non-zero tariff? In a short time frame, it hurts the side that makes such a move, but in the long run, it could eventually bankrupt businesses on the other side and,...

Tariff Trade War, Opiod Epidemics, Legal Marijuana, November Mid-Terms, Obama Resistance Although President Donald Trump is doing anything but ducking, it’s Canada Day, the day that Prime Minister Justin Trudeau chose to send RETALIATORY tariffs at the media-reviled American president—but only at products from swing states— to help ‘Resistance’ leader Barack Obama claw back all that was lost by Hillary Clinton, in upcoming Midterm elections. So far it’s mostly bourbon from Mitch McConnell’s Kentucky, toilet paper from Wisconsin, and our favorite—pickles from North Carolina.

The anticipation surrounding the new movie "Gods and Generals," which opens today, underscores the continuing fascination that Americans (and the world) have with the meaning of the Civil War. It also reflects a growing awareness that the simple story of Northern liberators versus Southern slaveholders fails to do justice to the truth. But what continues to be missed are the economic roots of the North-South conflict—roots which represent deviations from the free-trade ideal. In a May 10, 2002 article on mises.org ("Lincoln's Tariff War") I elaborated on the argument in my book, The Real Lincoln, that the tariff was a far more important cause of the...