Trump's Tariffs and the U.S. Multinational Firm

Abstract

Craig Medlen dissects the logic behind the Trump administration's efforts to impose tariffs as a way to counteract "unfair" U.S. trade deficits. Situating these deficits in the longer history of U.S. trade hegemony and its crumbling position in the global economy, Medlen uses incontrovertible data to illustrate how mainstream economic orthodoxy fails to acknowledge the effects of foreign inputs that integral to the workings of U.S. monopoly capital.