Mr. Obama announced last Friday night that he would impose a 35% tariff on low cost tires imported from China. The President has once again achieved a trifecta of policy outcomes favoring his agenda: a victory for the United Steelworkers union, a boost for ObamaCare and another blow in his war on prosperity to boot.
In this protectionist climate, the United States ought to be showing leadership in tempering pressures for trade barriers and ensuring that a critical engine of U.S. and world economic growth is allowed to function unimpeded. Instead, President Obama has made a political calculation that firing off an onerous tariff against the country that buys a major portion of our rapidly mounting debt will help him to achieve his top domestic priority of nationalizing the health care system.
While Obama may be aware of the unintended consequences of the Smoot-Hawley Tariff Act, he is either unaware of the unintended consequences that may accrue from his recent tariff action, or more likely, he is not nearly so concerned about possibly igniting a trade war as he is about achieving his political agenda...
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