Protectionist policies sacrifice efficiency for the sake of political gain. Rather than increasing productivity, tariffs merely redistribute resources toward producers in the protected industry and the government.

Recently, Secretary of the Treasury Scott Bessent boasted that tariff revenues exceeded $31 billion in August. Furthermore, the Tax Foundation predicts that President Trump’s tariffs will raise $2.3 trillion over the next 10 years and decrease U.S. GDP by 0.8%. The White House would have Americans believe that foreign businesses bear most of the burden imposed by tariffs; however, robust economic analysis reveals the detrimental consequences of tariffs for American companies and consumers.

A Dallas Federal Reserve survey (in August) noted that 47.7% of responding businesses rep

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