Trump and Trade
A couple of days ago I briefly tuned in to Mark Levin’s radio show. He was talking about Trump and trade, making the “comparative advantage” point you might remember from Econ. 101. That if each country makes what it can most cheaply, such as America designing iPhones and China assembling them (my examples, not his), then everybody comes off better. But if we impose tariffs, then prices go up for everybody, most hurting the poor when they go to buy stuff. So Trump’s attacks on Ford for moving a plant to Mexico, which on April 5 he called an “absolute...



