America’s 100% tariffs on Chinese EVs: bad policy, worse leadership

News Snapshot:

Although it is unfashionable to say so these days, one of the great accomplishments of the past half-century was the remarkable decrease in global tariffs. This reduction, from average levies on imports of more than 10% in the 1970s to 3% today, helped fuel a boom in international commerce and a near-tripling in global GDP per person. The more that countries opened up, the more they flourished. So it is deeply regrettable that President Joe Biden has decided to impose tariffs of 100% on electric vehicles (EVs) made in China. Because trade benefits consumers broadly, but harms specific workers and...