Remembering the ‘Infant Industry’ Argument in Favor of Tariffs as US Re-industrializes

Commentary In all the discussion of tariffs going on right now, one seldom hears mention of the “infant industry” argument. Yet for over 200 years, this was considered the main argument in favor of tariffs. As the economics profession, and in general the whole world, has moved towards a position favoring free trade—for thee, not […]