The Pros and Cons of President Trump's Tariffs

By Dylan Royse

Recently, President Trump placed tariffs on more than sixty countries. A court struck down the tariffs but the appeals court reinstated them. The tariffs will have some positive affects and some negative effects.

Trump is not the first president that has placed tariffs. Many presidents throughout history have placed tariffs. The first law passed in the United States was the Tariff Act of 1789 during the Washington Presidency. More tariffs were placed during the War of 1812. The Tariff of 1824 placed tariffs on British cloth during the Monroe Presidency. Andrew Jackson used tariffs to pay off the national debt. William McKinley was a major proponent of tariffs and placed many tariffs during his presidency. The Payne-Aldrich Tariff of 1909 raised some tariffs on some imports during the Theodore Roosevelt and Taft Presidencies. The Smoot-Hawley Tariff Act of 1930 increased tariffs during the Great Depression. In 2002 George W Bush placed tariffs on Chinese steel imports. Even more liberal presidents like Obama and Clinton placed tariffs. Trump placed many tariffs during his first presidency.

So what’s good about the tariffs? The first good thing about them is that it increases our revenue. Another good thing about them is that it boosts manufacturing in the United States leading to more jobs being created and having to rely less on other countries. Another good thing is that it may reduce the national trade deficit. Another good thing is that it punishes countries for unfair trade practices.

However, one of the bad things about the tariffs is that it may cause trade wars which would hurt our economy. Another bad thing is that prices on certain things at the store may go up. Another bad thing is that it may cause supply chain disruptions which could hurt our manufacturing.

In conclusion, Trump’s Tariffs have potential to boost our economy. However, they come with many risks also and could backfire. Its also important to note that we have a long history of tariffs dating back to our independence.