The Washington Times: Tariffs make us poorer — the rest is semantic

A tariff is a tax on imports. Taxes make us poorer. There has been a public debate among some economists as to whether the effects of tariffs are inflationary. In general, they raise the relative prices of imported goods but do not tend to lead unilaterally to persistent growth in general price levels. Fair enough, but let’s not pretend Americans won’t be left poorer anyway. This isn’t difficult to grasp — or at least it wasn’t until an unlikely coalition of populists banded together to defend policies that make us poorer.