We all want to secure American jobs and increase opportunity in our economy. Yet, raising wide-ranging tariffs, like those recently raised on steel and aluminum, is the wrong strategy.
To address trade imbalances, increase the number of American jobs and strengthen our economy through trade, we should modernize NAFTA. We must also work in a bipartisan manner to renegotiate trade agreements with our European and Pacific Rim allies.
We have seen this before, and we know what happens. Raising tariffs like these leads to a trade war. Every country has trade leverage, therefore no one wins a trade war.