Jonathan Nicholson covers Capitol Hill and campaigns for HuffPost. His Twitter is @JNicholsonInDC.
Republican presidential candidate Donald Trump threatened on Monday to impose high tariffs on imports if he is elected, regardless of whether Congress could pass them or not.
Though Trump has billed tariffs as a cost-free way to raise huge amounts of money for the government and punish countries perceived as uncooperative with the United States,Contrary to Trump’s claims, most economists, regardless of which school of economics they belong to, agree that consumers usually bear most of the brunt of higher tariffs by paying higher prices.Thank you for your past contribution to HuffPost.
The stakes are high this year, and our 2024 coverage could use continued support. We hope you'll consider contributing to HuffPost once more.released Sept. 10 found 95% of its respondents agreed that a substantial portion of tariffs are “borne by consumers of the country that enacts the tariffs, through price increases.” Only 2% disagreed.
“This is the core tenet of Trump’s Project 2025 playbook: Seize power for himself, squeeze the middle class to the tune of nearly $4,000 a year and make high costs even worse ― all as he and his billionaire friends get another tax giveaway. Voters know they can’t afford Trump’s national sales tax, and they’ll vote accordingly this November,” Chitika said.Thank you for your past contribution to HuffPost.
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