Scott Simon

Well, A, tariffs are taxes. They generally push up prices. They're a potential drag on spending. And they invite retaliation against U.S. exports. On top of that, you've got the unpredictable way the Trump administration has rolled out his tariff agenda on one day, off the next, back on again. All that just adds to the uncertainty and makes it very hard for businesses to plan.

Well, A, tariffs are taxes. They generally push up prices. They're a potential drag on spending. And they invite retaliation against U.S. exports. On top of that, you've got the unpredictable way the Trump administration has rolled out his tariff agenda on one day, off the next, back on again. All that just adds to the uncertainty and makes it very hard for businesses to plan.

Well, A, tariffs are taxes. They generally push up prices. They're a potential drag on spending. And they invite retaliation against U.S. exports. On top of that, you've got the unpredictable way the Trump administration has rolled out his tariff agenda on one day, off the next, back on again. All that just adds to the uncertainty and makes it very hard for businesses to plan.

Since the Second World War, the U.S. has generally pushed to lower trade barriers, not raise them. But there have always been a few domestic industries that have enjoyed special protection, and those offer some clues about how Trump's protectionist instincts might play out in other parts of the economy. One of the most protected industries in this country is sugar. The U.S.

Since the Second World War, the U.S. has generally pushed to lower trade barriers, not raise them. But there have always been a few domestic industries that have enjoyed special protection, and those offer some clues about how Trump's protectionist instincts might play out in other parts of the economy. One of the most protected industries in this country is sugar. The U.S.

Since the Second World War, the U.S. has generally pushed to lower trade barriers, not raise them. But there have always been a few domestic industries that have enjoyed special protection, and those offer some clues about how Trump's protectionist instincts might play out in other parts of the economy. One of the most protected industries in this country is sugar. The U.S.

has high trade barriers against imported sugar. As a result, the price of sugar in this country is usually about twice what it is on the world market. Now, that might not be a big deal if you're just putting a spoonful of sugar in your coffee every morning, but it's a very big deal if you buy sugar by the truckload like Kirk Vashaw does.

has high trade barriers against imported sugar. As a result, the price of sugar in this country is usually about twice what it is on the world market. Now, that might not be a big deal if you're just putting a spoonful of sugar in your coffee every morning, but it's a very big deal if you buy sugar by the truckload like Kirk Vashaw does.

has high trade barriers against imported sugar. As a result, the price of sugar in this country is usually about twice what it is on the world market. Now, that might not be a big deal if you're just putting a spoonful of sugar in your coffee every morning, but it's a very big deal if you buy sugar by the truckload like Kirk Vashaw does.

He's the CEO of Spangler Candy, which makes Dum Dums, Bit of Honey, and Candy Canes in Bryan, Ohio. His is one of the last hard candy manufacturers that still operates in this country.

He's the CEO of Spangler Candy, which makes Dum Dums, Bit of Honey, and Candy Canes in Bryan, Ohio. His is one of the last hard candy manufacturers that still operates in this country.

He's the CEO of Spangler Candy, which makes Dum Dums, Bit of Honey, and Candy Canes in Bryan, Ohio. His is one of the last hard candy manufacturers that still operates in this country.

So lesson one, trade barriers drive up costs. And while that's meant higher profits for U.S. sugar producers, it's been very expensive for all the businesses and consumers who buy sweets. In some cases, it's driven them out of the country.

So lesson one, trade barriers drive up costs. And while that's meant higher profits for U.S. sugar producers, it's been very expensive for all the businesses and consumers who buy sweets. In some cases, it's driven them out of the country.

So lesson one, trade barriers drive up costs. And while that's meant higher profits for U.S. sugar producers, it's been very expensive for all the businesses and consumers who buy sweets. In some cases, it's driven them out of the country.

Yeah, and a good example of that is the so-called chicken tax. Back in the 1960s, Germany slapped a tariff on imported chickens from the U.S., so the U.S. retaliated with the tax on imported pickup trucks. And that pickup truck tariff is still in place decades later. And the tariff is 25%, 10 times what the U.S. had been charging on imported cars.

Yeah, and a good example of that is the so-called chicken tax. Back in the 1960s, Germany slapped a tariff on imported chickens from the U.S., so the U.S. retaliated with the tax on imported pickup trucks. And that pickup truck tariff is still in place decades later. And the tariff is 25%, 10 times what the U.S. had been charging on imported cars.

Yeah, and a good example of that is the so-called chicken tax. Back in the 1960s, Germany slapped a tariff on imported chickens from the U.S., so the U.S. retaliated with the tax on imported pickup trucks. And that pickup truck tariff is still in place decades later. And the tariff is 25%, 10 times what the U.S. had been charging on imported cars.

That's why you see a lot of imported cars in the U.S., but very few imported pickup trucks. There's a deep protectionist moat around the U.S. pickup market. And Chief Economist Eugenio Aleman of Raymond James says that's why domestic automakers have put so much of their focus on building pickup trucks and SUVs.

That's why you see a lot of imported cars in the U.S., but very few imported pickup trucks. There's a deep protectionist moat around the U.S. pickup market. And Chief Economist Eugenio Aleman of Raymond James says that's why domestic automakers have put so much of their focus on building pickup trucks and SUVs.