Tariffs at Work: Historic Gains Amid Media Skepticism

A headline from Bloomberg on Thursday was indicative of legacy media's response to new trade data released by the Commerce Department. It declared, "U.S Notches One of Its Biggest Annual Trade Gaps Since 1960."

So, were the mainstream economists and political pundits right? Should we begin to doubt that President Trump's tariffs are having any effect at all? Can tariffs actually rebalance trade? That, of course, is precisely the reaction the headlines are intended to evoke.