Reason cites Vice President for Strategy Iain Murray on the effects of tariffs.
“The layoffs at NLMK were entirely predictable. Tariffs disrupt supply chains and business models, even in industries the tariffs are supposed to protect,” says Iain Murray, a vice president at the Competitive Enterprise Institute and author of a study on the moral and economic case for trade. “The tariffs destroy jobs in industries that use innovative models based around global supply chains. Tariffs slow innovation and it’s workers who bear the cost.”