Interesting what Trump is about to do, basically hitting the gas and the brakes at the same time (increasing tariffs, which are a tax, and lowering taxes simultaneously). I wish he'd address the elephant in the room...deficit. Of course we can all bet that NY/CA taxpayers in the $200k and up range, ie Democrats, will get taxed hard. For the others, tariffs may mimic a kind of national sales tax. With deportation, surely net inflationary.

I'm generally against tariffs, as they tend to incentivize Americans making inferior cars, for starters. However, I must say that historically, it may have had some benefit:

1) During the 1800s, we had no Federal Income Tax, only tariffs, property and excise taxes. The internal development of new lands in America brought in much revenue, but of course that was on the backs of slavery, environmental and Native American exploitation, not sustainable.

2) The tariffs may have helped the Americans develop their own industries to compete with Europe's. Maybe the US succeeded in spite of itself?

3) Very true that tariffs can cause depressions, but I suspect it depends on the nature and extent of the tariff. Most modern economists hate tariffs.

Today, it would seem tariffs on Chinese and Russian goods are appropriate, since ie the Chinese are dumping tech below cost, to take over industries, Russian oil intended to hold a gun to people's heads.

When you look at the import/export numbers, our trade with Canada/Mexico is HUGE. I believe we need to quit demonizing Mexico, start placing more industry there (before the Chinese do), have agreements to control drug lords (and perhaps a guest worker program), and maintain our free trade status. Europe/various cooperative SE Asian countries should enjoy similar privileges.

https://medium.com/p/5ffc36750ebc

PS-Isn't deporting Latin American workers a kind of tariff on Mexico?