Tariffs are taxes. They are almost always tools of crony capitalism as we’ve said before.
They tend to warp the economy generally in the effort to help specific constituencies. As such tariffs often create disruptive unintended consequences that can then ripple out.
(From The Wall Street Journal)
In a letter to the USTR, Walmart said tariffs on Chinese components “have the potential to undermine” the retailer’s reshoring efforts. “Tariffs on intermediate goods make little sense when the stated goal of the Administration is to increase manufacturing and jobs in the United States.”