Michael Hudson: Return of the Robber Barons – Trump’s Inverted View of America’s Tariff History

Trump’s inverted view of America’s tariff history

Donald Trump’s tariff policy has thrown markets into turmoil among his allies and enemies alike.

Michael Hudson: Return of the Robber Barons – Trump’s Inverted View of America’s Tariff History

Trump’s slash and burn tariff policy is to shrink government, gut regulation and sell off public assets to pay for his tax cuts on super rich

Michael Hudson: Return of the robber barons – Trump’s distorted view of US tariff history

This paper was originally published by the Democracy Collective. Summary Donald Trump’s tariff policy has thrown markets into turmoil among his allies and enemies alike. This anarchy reflects the fact that his major aim was not really tariff policy, but simply to cut income taxes on the wealthy, by replacing them with tariffs as the main source of government revenue. Extracting economic concessions from other countries is part of his justificati…