Sen. Rand Paul (R-KY) claimed that a key problem with the tariffs recently implemented by the Trump administration is based on a “fallacy” that the U.S. does not benefit from trade with other nations.
The Kentucky senator said that Trump’s argument for tariffs is “fundamentally backwards” because it is based on the idea that when countries engage in free trade, “someone must lose” and that foreign countries like China or Japan are benefiting from trade more than the U.S.
“It’s absolutely a fallacy,” Paul argued on CNBC’s SquawkBox. “Every trade that occurs in the marketplace is mutually beneficial. If you have a free society and I trade with you, if you want to sell me your coat and I give you $200 for it, we both
Trending: Singer Katy Perry traveling to space on Monday with all-female crew
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!