For those who roam within credentialed economic circles and discuss markets with hedge fund managers at the Harvard Club, tariffs are sacrilegious. Speak kindly of them and you’re a free market heretic. It’s practically un-American.

Sadly for them, tariffs that began in 2018 have not destroyed the U.S. economy. The stock market did not crash. Tariffs weren’t the cause of inflation either. And many manufacturing industries from kitchen cabinets in Alabama to solar in Ohio are thriving because of them. Others, like automobiles, may soon need them.

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