How Tariffs Erode Consumer Choice and Prosperity

Recent data shows the damaging effects of tariffs on the American economy. Protectionist policies make goods more expensive at home, but there’s another less-obvious consequence that also impoverishes Americans: reduced consumer choice.

The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect those of Peter Schiff or SchiffGold.

Retail sales were down for May with the AP reporting, “The figure was pulled down by a steep drop in auto sales, after Americans ramped up their car-buying in March to get ahead of Trump’s 25% duty on imported cars and car parts. Excluding autos, sales fell 0.3% in May.”