Tariffs Mean Lost Jobs
'In summary, and in the spirit of Hazlitt, tariffs do not ultimately protect jobs. At best, they protect some jobs at the expense of everyone else and often do not even protect those jobs. Via tariff policy, jobs are shifted, not created. Increased prices, as a result, artificially reduce consumer spending, saving, and investment, leading to invisible job losses elsewhere. Real wages decline as prices rise. Efficiency also decreases by protecting industries that are not globally competitive. Lastly, protectionism disrupts comparative advantage, distorts the structure of production, and leads to economy-wide inefficiencies and unemployment.'
