What Economists Got Wrong on Tariffs

Credit where credit's due, President Trump made a big bet that the US had a magnetic appeal and that would enable him to get a better deal from US trade partners and companies that want to do business in the United States. On the evidence of the last few months, that bet is playing out pretty nicely. Did the economics profession get it wrong on tariffs or is the impact just delayed.Economists don't agree on much. One thing they do agree on is that free trade is good and that tariffs are bad. If we were to t ...