Professor Robert Salomon discusses the potential implications of protectionist trade policies with China
— February 8, 2017
Excerpt from ICAS -- "'It’s fine if you want to eliminate the deficit, but the reverse will happen,' says [Salomon]. 'As that money flows out and we start levying tariffs, interest rates will rise and things will get more expensive for Americans.' When Americans stop spending, companies don’t profit and then they don’t hire as much, creating the reverse effect."