Tariffs are the talk of the town. Last week, President Trump signed an executive order establishing wide-ranging tariffs on American trading partners. The order requires a baseline ten percent tariff on all imports coming into the United States, and for many countries, the order establishes higher ‘reciprocal’ tariffs. Then, earlier this week, the President announced a 90-day pause on the tariffs for most trading partners except China.

In his executive order, the president argues that “Large and persistent annual U.S. goods trade deficits have led to the hollowing out of our manufacturing base.” Furthermore, he said, the tariffs levied on America more difficult for the U.S. to sell goods there.

The president claims U.S. trade practice, starting in 1934, was based on the idea that if the United States lowered trade barriers, other countries would lower barriers reciprocally. That, according to the president, hasn’t happened. “Despite a commitment to the principle of reciprocity, the trading relationship between the United States and its trading partners has become highly unbalanced, particularly in recent years.”

This dynamic, the president argues, resulted in the shutting of American factories, putting millions out of business, and putting our national security at risk. It is the president’s hope that tariffs will shore up American manufacturing.

Many critics of the newly imposed tariffs argue tariffs are a tax on American consumers. Consequently, consumers will pay more for “everyday products ranging from automobiles to apples,” according to the Cato Institute.

Some companies, though affected by higher costs, won’t raise prices. However, those firms will “have less money for hiring, [and] investment,” says trade expert Scott Lincicome.

This is not the first time President Trump imposed tariffs — in 2018, he imposed a “25% tariff on steel and a 10% tariff on aluminum imports,” according to Reuters. The White House claims those tariffs achieved Trump’s “economic and strategic objectives.”

Reuters also reported the economic report card was mixed. “The tariffs on metal imports did contribute to the creation of jobs in the metal production industry.” However, one estimate suggests there were “75,000 fewer jobs in manufacturing” from the steel and aluminum tariffs.

The Church does not have an official ‘trade policy,’ but does call for justice in trade negotiations — especially between developed and developing nations. “Attempts to establish greater justice in international trade would be of great benefit to the developing nations,” wrote St. Paul VI.