Paul Krugman thinks that a US politician is excessively opposed to tariffs.
End of days near.
I think the president has this wrong:
President Obama on Sunday praised the energy bill passed by the House late last week as an “extraordinary first step,” but he spoke out against a provision that would impose trade penalties on countries that do not accept limits on global warming pollution.
The truth is that there’s perfectly sound economics behind border adjustments related to cap-and-trade.
Krugman goes on to make a perfectly convincing case (click the link) but would the Krugman of 1992 have discussed this in public with protectionist politicians listening ?