William Schambra is a Hudson Senior Fellow and director of the Institute’s Bradley Center for Philanthropy and Civic Renewal. This essay is adapted from a presentation to a conference on “Progressive Challenges to the Constitution” hosted by St. Vincent College’s Center for Political and Economic Thought in April 2011.

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US President Donald Trump reacts after signing executive orders imposing tariffs on imported goods in the Rose Garden at the White House on April 2, 2025, in Washington, DC. (Andrew Harnik via Getty Images)