As President Trump moves forward with a plan to slap Mexico with tariffs, IPI experts pulled no punches in speaking out regarding the harm imposed on U.S. consumers by such a move.
On Twitter, Dr. Merrill Matthews asked why the president is choosing to punish Americans over his concern for the flood of illegal immigrants.
President Trump is rightly concerned about the flood of immigrants crossing the southern border. In response, he plans to make Americans pay 5% more (the tariff) for anything they buy from Mexico. Wait! Why is he punishing Americans for Mexico's bad actions?— Merrill Matthews (@MerrillMatthews) May 31, 2019
Additionally, IPI president Tom Giovanetti chimed in regarding the Constitutionality of weaponizing tariffs.
Matthews also asserted that President Trump’s habit of imposing tariffs has undermined the otherwise booming economy as reflected in the stock market.
The Dow is now about where it was at the end of 2017. Essentially flat for a year and a half. Trade wars have consequences.— Merrill Matthews (@MerrillMatthews) May 29, 2019
IPI believes the United States should aggressively pursue trade liberalization, which includes a willingness to lower our own trade barriers even as we press other countries to lower theirs. American consumers bear the brunt of the protectionist impulse through higher prices on consumer goods, and American workers are best served when liberalized trade policies facilitate the export of American products throughout the world.