New front in trade war could cost consumers $93 billion
Tariffs that the U.S. is threatening to impose against Mexican goods could have steep costs, both economically and politically, while also affecting important policy decisions.
President Donald Trump said the duties will be imposed June 10 unless Mexico takes steps to address illegal immigration. While White House Chief of Staff Mick Mulvaney said the hope is that the tariffs aren't necessary, the president has shown that his threats are not idle.
Under the plan Trump outlined, the tariffs would begin at 5%, levied the first day of each month until they reach a maximum of 25%.
Based on 2018 trade numbers, in which the U.S. imported $371.9 billion from Mexico, that would equate to a tax on U.S. consumers that would start at $18.6 billion and escalate to just shy of $93 billion.
https://www.msn.com/en-us/money/markets/new-front-in-trade-war-could-cost-consumers-dollar93-billion/ar-AACcxHd?li=BBnb7Kz
Dumbass hasn't figured out it's the consumer that pays the tariffs.
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