Trump’s tough-love tariffs: Pain now, prosperity later

The latest economic numbers don’t look good. The inflation rate, which had inched down in the last two months, started to rise again. Moreover, stock prices continue their downward trend as the market faces ongoing uncertainty and volatility. And then there are tariffs.

The short-term impact of tariffs may be painful. If the 25% tariffs stick, your favorite European cars will be more expensive — as will all Canadian goods and possibly many Mexican goods. Nearly all American-made cars contain components manufactured elsewhere, meaning their prices will rise too.

Americans will see a vast increase in their standard of living.

A tariff is just like a tax: It increases the cost of producing a product and, therefore, its price. The key question

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