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systematically being replaced by other races. he s not alone. why are these demographic fears going mainstream in countries around the globe? i ll talk to two experts. but, first, here s my take. president biden says that combating inflation is his top domestic priority. but he certainly isn t acting that way. he has in plain sight several members that would reduce inflation significantly, and yet appears hesitant to do them. as many distinguished economists have noted, the repeal of most or all of donald trump s tariffs would be the single most effective way of reducing inflation 2349 near future. as a reminder, a tariff is a tax on goods paid by the american consumer who buys those goods. it is by definition inflationary. it raises the price of the good like an imported car. but it causes even more inflation than that because it raises the price of the domestically made equivalent good as well. if a mazda sells for more, ford and general motors also raise prices o ....
Inflation than that because it raises the price of the domestically made equivalent good as well. if a mazda sells for more, ford and general motors also raise prices on their cars. the reverse logic applies as well. if you cut tariffs, that also has a broader effect. when the mazda gets cheaper, ford and gm will cut prices on their products to compete. in march the peterson institute for international economics produced a study estimating that reversing most of the trump tariffs would reduce inflation by 1.3% points. larry summer endorsed that study concurring trade barrier reduction was the single biggest micro economic measure by far that could be taken to alleviate inflation in the near term. the second one he noted would be immigration reform. this is the time to reverse trump s restrictions on immigration, many done by ....