Instant costs and delayed benefits are problem for Trump tariff goals

A major challenge facing President Donald Trump’s trade agenda is that the costs come first and any benefits, which are hotly debated by economists, will come later.

Voters, who are already tired of several years of inflation, may not want to endure the tariffs long enough for any shift in the balance of trade to occur, even if they may in theory like the idea of American reindustrialization or getting tough with China. Most polls on tariffs don’t show much patience or support from the public.

Congressional Republicans, who will need to face the voters next year, are perhaps more skittish about the tariffs. Their narrow House majority will be in play in the 2026 midterm elections, as will be a third of the Senate, where

Continue reading