Donald Trump calls tariffs “the most beautiful word in the English language.” That alone in and all by itself ought to establish him beyond doubt as belonging in the loony bin of economics. Trade is necessarily mutually beneficial at least in the ex ante sense and almost always ex post as well.
Trump has recently gone berserk with his tariff threats. How should Canada react? Before I get to that, let me just say that Doug Ford, the Ontario Premier, was entirely justified in stuffing down Trump’s throat the undeniable fact that Ronald Reagan opposed tariffs.
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