Unintended Consequences of Trade Barriers: The Hidden Costs Affecting American Industries

The current administration has a propensity for wielding tariffs, but it's essential to recognize that governments can intrude upon the free flow of goods and services through various means. Some of these trade barriers are so subtle and deeply ingrained that their existence might come as a shock. Let's delve into an illustrative example of how attempting to safeguard one American industry can inadvertently harm another. Misguided intentions often give birth to trade restrictions, leading to increased costs for consumers. For more insights, check out our Summer School video cheat sheet on TikTok. Subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org/planetmoney to access bonus episodes and support the show. The series is available for free at these links: Apple Podcasts, Spotify, the NPR app, or wherever you listen to podcasts. Connect with us on Facebook, Instagram, TikTok, and subscribe to our weekly newsletter. This episode was produced by Eric Mennel, with Robert Smith as host. Devin Mellor serves as project manager, while Alex Goldmark edited the production, and Emily Crawford ensured factual accuracy.