Kearns: GOP Gets it Wrong on Tariffs, Right on VAT

container is unloaded from an international freighter at a port in Tokyo on June 20, 2016. For May, Japan logged a deficit of 40.72 billion yen ($389 million), compared with a trade surplus of 823.18 billion yen in April, as exports of steel and semiconductors declined, the finance ministry said. / AFP / TOSHIFUMI KITAMURA (Photo credit should read
President-elect Trump’s call for tariffs on outsourced U.S. manufacturing goods is a bridge too far for editorial boards, business journalists, pundits, and even new friends like Rep. Paul Ryan (R-WI). The House Speaker says that, rather than revamping faulty U.S trade policy, the solution for America’s manufacturing woes is simply to enact “comprehensive tax reform.”