Disappointing Debates | Michael D. Tanner | Cato Institute: Commentary

Disappointing Debates | Michael D. Tanner | Cato Institute: Commentary: "His decision to impose tariff penalties on Chinese tires may or may not have saved 1,000 jobs in the tire-manufacturing industry, as the president claims, but it also cost American consumers more than $1.1 billion in higher tire prices — Americans ended up paying more than $1 million for each tire-factory worker's job saved. Further, because Americans had to pay more for tires, they had less to spend on other goods and services, meaning fewer jobs in other industries. Studies suggest that on net, the president's tire protectionism actually resulted in a loss of more than 2,500 jobs. And if that wasn't bad enough, the Chinese retaliated by imposing penalties on U.S. chicken products, costing that industry at least $1 billion in sales. "