Economist Jim Rickards Talks About Tariffs: The Best Policy in the World

Jim Rickards, an economist and author of the best-selling book "Currency Wars," explains that tariffs are extremely beneficial for the United States but disadvantageous for other countries. In a recent podcast, Rickards stated that contrary to the notion that tariffs are sales taxes on the American people, tariffs primarily affect the dynamics between importers/distributors of goods and producers in countries like China, who bear the losses from these additional costs.
Rickards emphasizes that price increases will push consumers out of the market, affecting both businesses and the economy. "Tariffs do not apply to consumers, but rather to producers or importers or are distributed among them in some way; therefore, the idea that tariffs cause inflation is incorrect," Rickards concludes.