The Ramifications Of Trump’s Proposed Trade Wars

This doesn’t make America great again:

According to Team Trump, their import tax would (i) force American consumers to pay 10 to 15 percent more for food, clothing, shoes, electronics, and other basic necessities; and (ii) thereby assist American manufacturing companies and their workers.

Put another way, Team Trump has now freely admitted they want to indirectly subsidize U.S. manufacturers via higher prices that American families and businesses would be forced to pay for these domestic producers’ goods.

According to Team Trump, Trump’s import tax would force Americans to pay 10 to 15 percent more for food, clothing, shoes, electronics, and other basic necessities.

This is a wonderful admission—one I don’t think Trump himself has made yet—and I applaud Collins for both his honesty and for revealing the blatant immortality of Trump’s plan. For starters, given that the average American household spends about $11,000 on food, clothing, and other similar items each year, a 10 to 15 percent tax on these goods translates to an extra $1,100 to $1,650 per year that American families would have to spend under President Trump for the same stuff that they’re consuming right now—money they could have saved, invested, or spent on other important necessities like housing or health care.

Don’t bet on these proposed tariffs producing a net gain for jobs. Tariffs are historically job killers. But Trump has made it abundantly clear he won’t let things like the truth get in the way of his presidential ambitions.

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