Commentary: Why Are Republicans So Pro-Tariff All Of A Sudden?
Former President Trump's proposed tariff, on top of Senator Cramer's carbon tariff, would ultimately be passed on to consumers as a tax, or inflation by decreasing supply.
(Trigger Warning: This commentary will make a lot of people mad.)
Over the last couple weeks, I’ve highlighted the proposed Carbon Tariff that the Coons-Cramer PROVE IT ACT would create.
Senator Cramer has responded by saying its not a tax on Americans.
But that is simply not true, since tariffs on imports get paid for by consumers, just like any other tax. And even if the tariff works to make American products more competitive, it will reduce supply because domestic production is still not ramped up to meet demand - which means prices and inflation go up even more, faster than they have been.
Now, we learn from the National Taxpayers Union, that Former President Donald Trump is proposing even more tariffs to try to block imports.
In an article entitled: “Behind Trump’s Proposed $4,000 per Household Tax Increase” written by Bryan Riley, President’s Trump’s plans, if re-elected, are to impose tariffs of Chinese goods, to deter Americans from buying them with the goal of spurring American…
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