In an interview with podcaster Joe Rogan, then-candidate Donald Trump made waves when he declared that "the most beautiful word...in the dictionary today...is the word 'tariff'—it's more beautiful than 'love.'" While this humorous comment was a bit hyperbolic, the underlying sentiment was not. President-elect Trump campaigned on the promise of raising tariffs across the board, and he has a mandate from his Midwestern constituents to deliver protection and prosperity.
While the fight for Treasury Secretary has reached a fever pitch, whoever is chosen for the role will likely be far more favorable to tariffs than former treasury secretary Steve Mnuchin was back in 2016; the same could also be said for vice president-elect JD Vance, a staunch supporter of tariffs, in comparison to Mike Pence, a devotee of free trade. Furthermore, former U.S. trade representative Robert Lighthizer—the most vocal and effective defender of economic patriotism from his first term—is expected to play a critical role implementing Trump's economic agenda regardless of where he lands in the new administration.
While mainstream economists claim that tariffs lead to inflation, cronyism, and stagnation, they misunderstand the fundamental motivations driving economic patriotism today.
First, economic patriots value relative national power over absolute economic efficiency. In an era of great-power competition and an emerging multipolar world, tariffs serve as economic leverage to advance........