“Lifting the steel and aluminum tariffs on our North American trading partners is a major step towards getting the new US-Mexico-Canada agreement passed. While the USMCA is on balance worse for America than NAFTA, it is far better than no agreement at all. Nevertheless, American consumers continue to be hurt by the tariffs on other countries, including on close allies like the UK. With the new tariffs on Chinese goods being imposed, American consumers, particularly in the middle class, need some relief while supply chains re-adjust.”
Iain Murray is the coauthor of a 2018 report advocating free trade and a frequent critic of tariffs.