We’ve been reading a November 2024 paper by Stephen Miran, the newly installed chair of the US Council of Economic Advisers, titled “A User’s Guide to Restructuring the Global Trading System.” The paper makes a case for the use of tariffs in the context of US domestic policy, global markets and international security. We review the paper with a nod to a 1987 speech by US President Ronald Reagan on the dangers of tariffs, relative to today.
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