Ever felt tariffs are just price tags on your favorite imports? 🌐 Natasha Sarin, president & co-founder of the Budget Lab at Yale, breaks down how US tariffs are doing more harm than good.
According to Sarin, tariffs push resources away from super-productive sectors and into slower lanes. Imagine a top athlete forced to play a beginner’s game—performance drops! 📉 Over time, this means a persistently smaller economy.
Tariffs also bump up prices, chill consumer demand, and kill the vibe for businesses to invest and grow. 💼💔 Less investment today means fewer jobs, innovations, and opportunities tomorrow.
In short, while tariffs aim to protect local industries, they can end up shrinking the big picture. The takeaway? Trade policy is a delicate dance—one misstep, and the beat just stops. 🕺💥
Reference(s):
Tariffs lead to a persistently smaller US economy: Yale Budget Lab
cgtn.com
