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But we saved everything 🙂.
Erica York emphasizes that tariffs can lead to benefits for protected sectors, but at a cost to the overall economy. Such measures tend to detract from productivity, resulting in a lower total economic output than would have been possible without tariffs.
York’s latest assessment aligns with her prior examination of how U.S. tariffs reduce real, after-tax income for households, highlighting the broader impacts on financial wellbeing. Her previous analysis of October’s goods imports further demonstrated the extent to which tariff policies have driven import rates to new highs, underscoring persistent challenges to overall economic output.