Reported 21 days ago
The article argues that Donald Trump's proposed tariffs, which could impose a 20% tax on most imports and a 60% tax on Chinese goods, would greatly exacerbate inflationary pressures faced by American households. While President Biden's inflation has resulted in a loss of purchasing power, estimates suggest that Trump's tariffs could cost households an additional $2,600 annually, far outweighing the economic impact of Biden's policies. The commentary emphasizes that these tariffs represent a tax paid by American importers, underlining that the true cost of Trump's trade policy may prove more burdensome than the inflation experienced under Biden.
Source: YAHOO