Phil Gramm, a former U.S. Senator from Texas and chairman of the Senate Banking Committee, is a nonresident senior fellow at the American Enterprise Institute. Donald J. Boudreaux is an economics professor at George Mason University.
President Donald Trump regularly claims to have achieved unprecedented prosperity in his second term, which he attributes to his implementation of the highest tariffs since the Great Depression. But no matter what data points the president points to, his tariff policies appear to be holding back the very prosperity he claims to have achieved.
