Charlottesville, VA (CVILLE RIGHT NOW) – University of Virginia economics professor Dr. Ed Burton voiced concerns over the U.S. tariff policy during a conversation on Morning News, noting that the rollback to 10% tariffs still leaves Americans footing the bill. “The overall tariffs before Trump was elected were 3% on imports, it’s now 23% on average, even after the rollback,” Burton explained. “That’s a massive tax and you pay it… Only Americans can pay the tariff tax.” 

Burton emphasized that making case-by-case exceptions for specific industries is a flawed strategy and criticized the broader economic impact, especially on average Americans. “You really don’t want the president deciding on a case-by-case basis who pay’s the tariffs and who doesn’t, but that’s kind of what’s going on,” he said, highlighting the chaotic nature of current trade negotiations. He also warned that these policies could drive up interest rates due to the potential loss of foreign debt buyers like China and Japan, who currently hold significant portions of U.S. debt. 

In terms of long-term solutions, Burton argued that improving education is a more effective way to help lower-income Americans than protectionist trade policies. “Public policy should be devoted to helping the people in the bottom half of our income distribution have a real shot at the American dream,” he said. Burton predicted that if economic conditions worsen, political pressure could lead to a policy reversal: “I think the President will consult his better angels and walk away from this tariff program at some point.” 

Listen to the full conversation here: