Trump's trade war got Americans a $3 billion tax hike -- every month

[ffr]

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Trump’s trade war is costing companies and consumers $3 billion per month in additional tax costs. And those costs aren’t being paid by China or other countries, as Trump often claims. No, this study shows American consumers — teachers, factory workers, and farmers — along with U.S. companies bear almost all the cost from Trump’s tariffs, according to economists from the Federal Reserve Bank of New York, Princeton University and Columbia University.

“This is kind of the worst-case scenario in terms of consumers,” David Weinstein, one of the authors of the study, told Bloomberg.

A different study from four economists, including the World Bank’s chief economist, confirms the economic harm caused by Trump. That study puts the annual losses from Trump tariff cost increases at a staggering $68.8 billion. - Shareblue

tRump and the KGOP doing exactly what Ronald Reagan did as governor of California, raising our tax burden.

[smirkymonkey]

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