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»We will tariff and tax foreign countries to enrich our citizens,« President Trump declared in his inauguration speech. Adam Smith is turning in his grave. Tariffs destroy wealth. No matter, Mr. Trump said he may slap 25 % tariffs on Canada and Mexico starting Feb. 1 and 10 % on China. An executive memorandum demanded his administration study trade deficits and tariffs. Here’s a study guide:
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