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Greg Ip

Greg Ip Biography

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“It [economics] facilitates our understanding of the well-being of societies and the challenges they face; it explains many of the daily interactions between individuals, companies and governments, and it offers a guide to understanding political and social trends that are shaping our world.”

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Book:The Little Book of Economics: How the Economy Works in the Real World
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“Tariffs are in the end taxes. And somebody has to pay that tax. I think one thing people are forgetting is that trade disputes are two-sided. When the United States imposes tariffs on a partner like Canada, there is always a possibility that Canada will say that's not fair and retaliate. And at that point, you have to ask the question, - which U.S. industry will suffer because the Canadians retaliated against it?”

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“Donald Trump can, for example, imply the threat that federal business will be withheld from some of companies. That's possibly dangerous precedent. You know what I mean? When - the Pentagon has very specific guidelines, for example, when it goes out and does procurement. You don't want them buying a jet engine which is actually inferior to another jet engine simply because that other company outsourced some jobs. The final thing that Trump could do is he could impose tariffs on any products that are imported once they have been outsourced to another country.”

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“There's no question that protectionist or sort of moral suasion efforts like this can make a difference on a case-by-case basis. We have seen it in the past. It will probably save a few thousand, possibly more, jobs this time. But if the economics are saying that this is an expensive place to produce stuff, it's very hard to see that turning that around. That's why it would be more useful to focus on some of the other points that I think Donald Trump was making about making US a better place to manufacture.”

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