Et Tu, National Review?
National Review gets accused of having a very monolithic view of politics. While it is true most of their writers approach their writing from a conservative perspective. People forget how big of a tent conservatism currently is. Today, Nicholas Phillips writes that maybe it’s time to end the taboo with tariffs (National Review),
Conservatives have long insisted that trade deficits don’t matter. Armchair policy wonks are fond of pointing out that you run a trade deficit with Shake Shack, yet both are better off from this exchange. But as U.S. Trade Representative Robert Lighthizer points out, if you run a trade deficit with everyone, with no net-positive income stream from selling goods or services of your own, you’re just in debt, and your consumption of Shackburgers depends on your credit-card company’s patience.
While I strenuously disagree with the arguments being made I do think it is an interesting piece that may signal the future of trade. Democrats have long been skeptical of free trade and Trump’s trade rhetoric showed there was plenty of skepticism on the right as well. Ideas like this could the new normal with trade policy moving forward.