Trump, the self-described ‘Tariff Man,’ does not understand how tariffs work

“I’m a big believer in tariffs,” President-elect Donald Trump said this week, not for the first time. “I think they’re beautiful.”

Trump claims the heavy tariffs he plans to impose during his second term are “going to make us rich,” at no cost to American businesses or consumers. That is a dangerous fantasy.

Trump’s position on tariffs begins with his longstanding misconceptions about international trade, which he erroneously views as a zero-sum game with rules that are rigged against the United States.