For ‘Tariff Man,’ levies starting to look like end-goal

President Donald Trump loves tariffs so much he once called himself “Tariff Man.” He also has repeatedly portrayed the punitive tariffs he has imposed on China and other countries as tools to create leverage and draw them into new trade deals that benefit the U.S.

Increasingly, however, Trump’s tariffs are looking like an end-goal rather than a tool and more tangible than any of the deals the president has promised.

And that, economists agree, bodes badly for the U.S. and global economies.

With his move to raise tariffs on $200 billion in Chinese imports last week and to order up plans for tariffs on all further trade from China, Trump has deployed import taxes on a scale not seen in decades, with some economists reaching as far back as the 19th century for comparisons. He has also threatened more to come with a Saturday deadline looming for him to decide whether to proceed with new duties on imported cars and parts.

In tweets and other public utterances in recent days Trump has hailed his tariffs, claiming they have helped power U.S. economic growth and repeated over and over again that other countries such as China foot the bill, a view even his own economic advisers are uncomfortable defending.

Trump is also displaying a preference for his tariffs over his own deals.

Among the major hurdles to a congressional vote to ratify his renegotiated version of the North American Free Trade Agreement are the steel and aluminum tariffs that Trump imposed on products coming from Canada and Mexico.

Those tariffs have invited retaliation against U.S. agricultural exports such as corn and pork that are hurting U.S. farmers. They also have caused senior Republicans like Chuck Grassley, head of the Senate Finance Committee, to say they will block any vote for Trump’s re-branded NAFTA, the U.S.-MexicoCanada Agreement.

But Trump has refused to bend.

“In one year Tariffs have rebuilt our Steel Industry — it is booming!” he said Tuesday on Twitter. “We now have a big and growing industry. We had to save Steel for our defense and auto industries, both of which are coming back strong!”

It’s that sort of proclamation that has analysts concerned that Trump’s tariffs may be the real end-goal of his trade agenda and thus risk becoming a permanent fixture.

Beyond the higher costs they impose on U.S. companies and consumers, Trump’s new tariffs are also inviting more retaliation.

On Monday, China laid out plans for an increase of tariffs by as much as 25% on some $60 billion in imports from the U.S. The EU has said it will retaliate quickly against any U.S. auto duties with the bloc’s trade commissioner, Cecilia Malmstrom, on Monday accusing Trump of taking a “law of the jungle’’ approach to trade.

Trump’s claim that his tariffs have boosted U.S. growth is based in part on a transitory drop in imports related to the stockpiling by U.S. companies at the end of last year of goods from China facing higher tariffs. Advocates of tariffs also claim they encourage domestic investment and thus pay long-term dividends.

With his tariffs Trump has launched the world’s largest economy into a livefire experiment to see if that is true. Or whether what most economists see as the lessons of history still hold.

Economists have long argued tariffs lead to higher costs for American consumers and companies while also hitting growth overseas, a toxic mix for the U.S. that could even tip it into a recession.

“I’m with most economists, and I think tariffs and a reduction in free trade are going to be a bad outcome for all involved and not just the U.S.,’’ said Stephen Gallagher, chief U.S. economist at Societe Generale in New York.