U.S. Manufacturers Blame Tariffs for Swelling Inflation

By Yuka Hayashi and Josh Zumbrun
The Wall Street Journal
May 30, 2021
Category: Business & Politics

WASHINGTON—Economists and policy makers are debating whether stimulus spending and easy monetary policy are fueling inflation. Many businesses say there is another culprit that should share the blame: import tariffs. The Trump administration implemented tariffs on products including lumber, steel and semiconductors. …The tariffs have long been opposed by U.S. companies [and] they are making a new push for the Biden administration to lift them, on grounds that tariffs contribute to rising prices and product shortages. …Another industry wrestling with soaring prices is home-building. …“It doesn’t make any economic sense to be taxing things when you don’t have sufficient domestic supply,” said Robert Dietz, NAHB’s chief economist. …Home builders and lawmakers have pressed Mr. Biden to eliminate tariffs imposed in 2017 on Canadian softwood lumber, part of a decadeslong disagreement between U.S. and Canadian lumber producers. [We respect the copyrights of the source publication – full access may require a subscription]

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