“It is the maxim of every prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy . . . . If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce of our own industry, employed in a way in which we have some advantage.”
-Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, 1776
IPI believes the United States should aggressively pursue trade liberalization, which includes a willingness to lower our own trade barriers even when other countries do not respond reciprocally. Ideally, those efforts include multilateral agreements, such as the Trans-Pacific Partnership, but bilateral agreements can also promote freer trade.
American consumers bear the brunt of the protectionist impulse through higher prices on consumer goods, and American workers are best served when liberalized trade policies facilitate the export of American products throughout the world. At a time when protectionist sentiments are growing, it is important to assert that the U.S. and its workers have nothing to fear from trade, and everything to gain.
CTA: New Tariffs Would Do Billion-Dollar Number on U.S. Economy
"The primary purpose of the Trump tariffs isn’t necessarily to raise tax revenue, as in centuries past, but to make something more expensive to U.S. consumers so that they will buy less of that item and buy more from domestic manufacturers, who, incidentally, typically raise their domestic prices," says IPI.
Trump Pushes the Ethanol Blend Wall
Increasing the blend wall to E15 means more demand for corn, which means higher prices and more money in farmers’ pockets — or maybe it just offsets some of their tariff-related losses.
Who Pays Tariffs?
Who pays the Trump tariffs? Americans, that’s who—as importers of tariffed products, businesses that buy those imported items, and, ultimately, consumers.
Trump Accomplished American Energy Dominance - Then Gambled It On A Trade War
If the U.S. and China don’t defuse this conflict, China’s retaliatory tariffs could hammer America’s booming energy industry, wiping out thousands of current or future oil and gas jobs.
Time for Congress to Take Back Its Tariff-Imposing Authority
The U.S. Constitution empowers Congress, not the president, to impose tariffs. It's time to return that power to its rightful legislative branch.
Coalition Letter Urging Congressional Approval of Tariffs
Given the serious, negative economic implications of tariffs, it is crucial for decisions on the issue to be made with the consent of Congress.
The Trade Conflict and Tariffs Will Hit Both Sides Hard
Dr. Merrill Matthews discusses the concerns of those in the heartland who are being hit the hardest by the tariffs.
Former Adviser Praises Trump for Tax Cuts and Deregulation but Calls His Tariffs 'Stupid'
In his presentation, titled “Trumponomics: How and Why It’s Working,” Moore said that the heart of “Trumponomics” is growing the economy as rapidly as possible and that many of the major issues facing our country today — including poverty, the national debt, income inequality and education — will be easier to solve if the economy is growing faster.
Here Comes Trump's Steel Tariffs-Induced Crony Capitalism
We predicted that if Trump's trade war took off it would lead to crony capitalism. Now companies are understandably lining up for tariff exemptions, and you know money and favors are changing hands.
Where Steel Tariffs Will Hit Hard: Your Gas Tank
Imposing steel tariffs will force consumers to pay more for electricity and to fill their tanks.
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