The importance of two asymmetries. Some of my pro-Trump friends argue that Trump is right in threatening tariffs on other countries as a way of getting governments of other countries to reduce their tariffs on imports from the United States. They point out, correctly, I think, that tariff rates that other countries' governments impose on U.S. goods tend to exceed tariff rates that the U.S. government imposes on imports from those countries. Therefore, they argue, it's justified to threaten higher tariffs on their exports to the United States until those countries' governments reduce their tariff rates. But even if it is justified--and I can understand their case--that leaves one huge question unanswered:
David Henderson considers the following as important: International Trade
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