The panel, Thursday on the RCP podcast, marked the first anniversary of President Trump imposing his “Liberation Day” tariffs on the rest of the world. After many twists and turns, did they accomplish anything? Tom Bevan graded the tariffs a “C” overall. “Certainly all the predictions of doom and gloom-that this would wreck the economy, send us into recession, spike inflation-none of that happened,” he said. “But it hasn’t been a smashing success nor a catastrophic failure.” “He said it would ‘live forever,’ but it’s already been forgotten,” Carl Cannon said. “The Supreme Court said it wasn’t constitutional-he didn’t have the authority. Maybe he is getting around that somewhat, but this idea that you’re going to raise money for the Treasury through trade-it’s a tax, and it doesn’t seem like the most efficient way to tax consumers.”
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