Are you feeling tariff whiplash yet?
With the threat of tariffs against some of our key trading partners looming large, I thought it was important to start this week's digest by sharing how tariffs are just as much a moral issue as they are an economic one.
Tariffs are often framed as a tool to protect domestic industries and create jobs, but in practice, they function as a hidden tax that disproportionately burdens the most vulnerable. We know one thing to be true - when the cost of business goes up, so does the cost of goods. We are just kidding ourselves if we think U.S. Businesses are going to decrease their profit margins to benefit the American consumer.
If enacted, we will see the price of essentials like food, clothing, and household items get more expensive. Low-income families, who already spend a significant portion of their income on these necessities will feel the most impact. Meanwhile, wealthier households that can absorb these price increases experience little disruption to their overall financial wellbeing.
Beyond economics, tariffs raise ethical concerns about who bears the burden of these policies. Rather than prioritizing the needs of the most vulnerable, tariffs often benefit industries with political influence while increasing financial strain on working-class families. If we seek an economy built on justice and dignity, we must critically examine policies like tariffs that perpetuate inequality under the guise of national economic strength. The real question is: Who pays the price? If the answer is those who can least afford it, then we must demand better solutions.
With Faithful Imagination,
Rev. Rayce J. Lamb, CFEI®
Founder, Reverend Money