Why Tariffs Don’t Fix Trade Deficits
Why Tariffs Don’t Fix Trade Deficits
Imagine two businesses across the street from each other: a hardware store and a café. Once a year, the café buys a set of pans from the hardware store to keep its kitchen running. Meanwhile, every day, the hardware store’s employees and the managerial staff pop over to the café for lunch—sandwiches, coffee, maybe a...