Our new emperor has a well-advertised love of tariffs. They appeal to his grandiosity, as dramatic imperial gestures that will bring the world to heel at no cost to Americans, given his stubborn delusion that foreigners, not consumers, pay the duties. Should he carry through with his threats to slap 10%, 20%, 30%, tariffs on imports—many of them on products that aren’t even made here, so there aren’t any domestic substitutes—prices will rise significantly, quite the turn for a guy who ran against Bidenflation. I’ve written about Trump’s tariffs for Jacobin, notably… Read More