Ignore the word 'tariff' -- Trump is pitching higher taxes [View all]
New York
CNN
—
Former President Donald Trump on Tuesday was interviewed by Bloomberg at the Economic Club of Chicago, where he once again touted historic tariffs as a way to grow America’s manufacturing sector by making foreign countries foot the bill.
But, given the economy’s central importance in the 2024 race, it’s worth hammering on an Econ 101 fact: Tariffs are a tax on Americans.
If you’re rolling your eyes right now because you already know this, congratulations and feel free to scroll on. Trouble is, a lot of people don’t seem to get this — including Trump, who, CNN has reported, has falsely and repeatedly claimed that China would pay for tariffs he imposes.
It’s just not how trade works — not now, not ever.
https://www.cnn.com/2024/10/16/business/tariff-tax-trump-nightcap/index.html
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