[Hoot Gibson]

It is way too early to declare tariffs an economic victory. Ditto for the new trade deals. It will be interesting to see whether Republicans pay a political price for driving up the cost of consumer goods with tariffs and trade deals.

As Milton Friedman often said, there is really no such thing as a free lunch. When governments interfere with free trade, they create winners and losers. Tariffs are taxes, as are artificially high costs for consumer goods, and somebody has to pay those direct and indirect taxes. No country has ever taxed its way to prosperity.

Trump's deregulation and tax rate cuts are fueling our improved economy. If Trump goes too far down the tariff road, economic growth will be restrained.