Lovely provides an economic history of tariffs on Marketplace

Lovely,-MaryIn a rally on Monday night, President Trump referenced the Great Tariff Debate of 1888 in the hopes of highlighting a time when US tariffs were high and economic growth was robust. Mary Lovely provided insight into tariffs today on Marketplace (interview starts at 5:08). "The economy has changed a lot since 1888 and in particular, when we think about who bears the burden of tariffs, we have to recognize the development of very complex supply chains for American companies," she says. "Simply looking at the tariffs and saying the tariffs, for example on China, will be passed back to Chinese producers, is simply not true." 02/13/19