How Bad Would Steel and Aluminum Tariffs Be, Really?

President Trump has proposed slapping a 10- and 25-percent tariff on aluminum and steel imports, respectively.  The cry from the free trade quarter and the mainstream media is loud, often bordering on hysterical.  They claim that these tariffs will raise consumer prices, hurt the U.S. economy, invite retaliation from other countries, and maybe lead to a trade war reminiscent of the 1930s. Where to start?  The best place is with the term "free trade" itself.  In reality, these is no "free trade."  Mouthing the words "free trade" sounds good, so it must be good, right?  Wrong.  What has been passing for free trade is the condition whereby the U.S. markets are kept relatively open while other countries are allowed to put up barriers to our exports and maintain predatory trade practices.  It is this "free trade" that has been grinding American manufacturing down for...(Read Full Article)