On trade, Trump and his advisors are central planners

They undermine prosperity with tariffs and managed trade policies

In his April 2nd “Liberation Day” Rose Garden address President Trump asserted, “For decades, our country has been looted, pillaged, and plundered by nations near and far, both friend and foe alike…Our country and its taxpayers have been ripped off for more than fifty years, but it is not going to happen anymore…This is one of the most important days, in my opinion, in American history. It’s our declaration of economic independence.

These are just a few examples of Trump’s big government trade policies.

Trump regurgitates every trade fallacy that has been debunked for more than 200 years. Trump and his advisors should read Murray Rothbard’s essay which demolishes protectionist policies and tariffs, and makes the case for free trade.

For Trump to announce his trade proposals are a “Declaration of Economic Independence” is nonsense. The foundation of the American people’s independence can be found in the Declaration of Independence.

"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.”

Liberty means the absolute right to trade domestically and internationally with any willing buyer or seller without government interference. Pursuing happiness means having the right to engage in peaceful activities domestically and internationally.

Protecting a company, industry or jobs is not constitutionally authorized.

Trump views civilization in terms of nation-states (governments) instead of individuals pursuing their goals. That view is anti-human.

As Ludwig von Mises noted in his insightful 1944 book Omnipotent Government: “The worship of the state is the worship of force. There is no more dangerous menace to civilization than a government of incompetent, corrupt, or vile men. The worst evils which mankind ever had to endure were inflicted by bad governments. The state can be and has often been in the course of history the main source of mischief and disaster.”

“To claim the “country has been looted, pillaged, and plundered” is absurd. If there has been a looting of the American people, it is because of federal, state and local taxes, onerous regulations and debasing of the dollar by the Federal Reserve. In other words, all levels of government have been ripping off Americans. In addition, the endless proxy wars in Ukraine and Gaza are more examples of an overseas interventionist agenda that undermines world peace.

By taking “sides” in local and regional overseas disputes prolongs conflicts and leaves a path of death and destruction. As Ludwig von Mises observed, “Society has arisen out of the works of peace; the essence of society is peacemaking. Peace and not war is the father of all things. Only economic action has created wealth around us; labor, not a profession of arms, brings happiness. Peace builds, war destroys.”

Trump and his trade central planners need to rethink their big government policies otherwise peace and prosperity would be undermined.

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Dave Campbell and I discuss MAFI on the Clarity and Chaos podcast.

Col. Mike and Dr. Mike and I discuss Trump and his promises on the National Security Hour.

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Restoring free enterprise, medical freedom, and a constitutional federal budget.

The insufferable Jim Cramer reveals his economic ignorance in a recent CNBC rant.

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Joseph Cotto and I discuss the economy on his podcast.

Tom DiLorenzo’z pamphlet, Axis of Evil, is now available at the Mises Institute.

Order a free copy of Rothbard’s money and banking classic monograph. Or, you can read it online here.

My December 10 talk on medical care.

America’s debt bomb.

Bob Murphy interviews Dr. Keith Smith of the Surgery Center of OK.

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Murray Sabrin, PhD, is emeritus professor of finance, Ramapo College of New Jersey. Dr. Sabrin is considered a “public intellectual” for writing about the economy in scholarly and popular publications. His book, The Finance of Health Care: Wellness and Innovative Approaches to Employee Medical Insurance (Business Expert Press, Oct. 24, 2022), and his other BEP publication, Navigating the Boom/Bust Cycle: An Entrepreneur’s Survival Guide (October 2021), provides decision makers with tools needed to help manage their businesses during the business cycle. Sabrin's autobiography, From Immigrant to Public Intellectual: An American Story, was published in November, 2022. He is also the author of Why the Federal Reserve Sucks.