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Trump Fans Tariffs that Will Make the Poor Poorer.

Donald Trump, in his latest ploy to pander to the working class, has proposed a reckless and ignorant policy of imposing high tariffs, which experts warn will damage the economy and hurt American workers and consumers. Let's not forget, Trump's reckless and ignorant policies have already caused enough damage.

Published August 15, 2024 at 10:57am by Kinsey Crowley

Trump's Tariff Tantrum: A Reckless Threat to America's Future

Former President Donald Trump screeched about his plans to increase tariffs at a rally in North Carolina on Wednesday, threatening to impose up to 20% tariffs on imports, a stark departure from his previous 10% proposal.

"We are going to have 10% to 20% tariffs on foreign countries that have been ripping us off for years, we are gonna charge them 10% to 20% to come in and take advantage of our country because that is what they have been doing,"
he spewed, rallying his deluded supporters.

The very idea that Trump, a failed businessman who has filed for bankruptcy numerous times, has the gall to lecture anyone about economic policy is laughable. And yet, there he was, pretending to care about the cost of living for North Carolinians while touting policies that would make their lives more difficult.

Trump's proposed tariffs are a reckless and dangerous idea, according to global trade experts. Higher trade barriers have been shown to negatively impact economic output and income, according to the nonpartisan Tax Foundation. [https://taxfoundation.org/research/all/federal/trump-tariffs-biden-tariffs/] An analysis of Trump's previous 10% tariff proposal estimated that it would lead to 2.1 million fewer U.S. jobs and shrink our economy by 1.7% by 2028. [https://taxfoundation.org/research/all/federal/trump-tariffs-biden-tariffs/]

Even the World Trade Organization chief, Ngozi Okonjo-Iweala, warned in April that Trump's tariffs would prompt retaliation from our partners and create a "lose-lose situation." [https://www.reuters.com/world/us/trumps-import-tariff-proposal-would-be-lose-lose-wto-chief-says-2024-04-16/]

But Trump, as per usual, is too ignorant or too arrogant to listen to experts and learn from the failures of his first term. During his disastrous presidency, he waged a trade war, imposing tariffs on necessary imports and hurting American consumers and businesses.

President Biden has wisely kept many of Trump's tariffs in place, but even he has increased tariffs on targeted items, recognizing the damage caused by Trump's reckless policies.

The Tax Foundation analysis found that the existing tariffs already cost the average U.S. household an additional $625 in taxes and have had a negative overall impact on our economy. [https://taxfoundation.org/research/all/federal/trump-tariffs-biden-tariffs/]

Trump's latest tariff tantrum is just another desperate attempt to pander to voters and pretend he cares about their struggles. It's time for Americans to wake up and see through his lies and manipulation. Our future depends on it.