Happy Hour May No Longer Be So Happy

The American Spectator cited CEI’s expert tariffs

Economists aren’t surprised that the alcohol industry is talking about price hikes.

“Tariffs are a tax,” said Ryan Young, a senior economist at the Competitive Enterprise Institute. “They make food, housing, cars, and clothing less affordable.” (RELATED: Taxes by Another Name)

Young adds that American consumers responding to higher prices without pay hikes by doing the obvious thing — cutting costs — will ultimately cost American jobs. “All these little decisions might cost a job here and a job there in seemingly random industries,” declared Young. “Tariffs caused them, but good luck tracing it back to the source.”

This is despite the fact that the administration claims the tariffs are about saving American jobs. The White House cited a Coalition for a Prosperous America commentary that claimed steel tariffs created over 4,000 jobs. But Young said that’s ignoring job losses in other industries that use steel. He said the auto, construction, and appliance-making industries lost 75,000 jobs from the tariffs.

Read more at The American Spectator