Widespread tariffs are a bad idea.
How do I know this?
History shows they don’t work.
Let’s look back.
JP Morgan’s Michael Cembalest wrote about President McKinley’s disastrous tariffs in the late-1800s:
President William McKinley tariffs were very popular at the time they were enacted, but they caused an almost immediate inflation spike. Voters were very unhappy: a few months later, the GOP lost 1…