The True Cost of Tariffs Isn’t in the Data Yet: Matthew Yglesias

One of the most provocative items in my wardrobe is a plain dark T-shirt designed by a libertarian economist. In 10 lines across the front, it reads: “Tariffs not only impose immense economic costs but also fail to achieve their primary policy aims and foster political dysfunction along the way.”

In related news, Apple Chief Executive Tim Cook went to the White House last week to give President Donald Trump a large piece of gold. In exchange, Trump said that Apple would be exempt from a new 100% tariff the US is imposing on imported microchips. Officially, Apple gets ...