Economic policies should improve, not harm, standard of living
Our domestic and international economic policies should improve not harm our standard of living. Domestic economic policies that encourage the creation of low-paying jobs to compete internationally on price do not raise our standard of living. Placing higher tariffs on imported goods without wage increases to offset the higher costs of these goods does not raise the domestic standard of living; it does the opposite. Tariffs also spark retaliatory tariffs. As the cost of U.S. goods to foreign consumers goes up, U.S. overseas sales go down, hurting manufacturing and agribusiness and ...