Monday, December 5, 2022
Home LATEST NEWS The GOP needs to outrun Trump on trade

The GOP needs to outrun Trump on trade

“Our trade policy rests firmly on the foundation of free and open markets,” the president said. ronald reagan in 1986. Thirty years later, President Donald Trump tweeted: “The word TARIFFS is a really beautiful word.” His administration imposed, to applause from parts of the Republican Party, tariffs of up to 50% on steel, aluminum and a variety of Chinese products. After being the party of free trade for nearly four decades, some Republicans need a refresher course on the dangers of protectionism.

Republicans undoubtedly view the Tax Cuts and Jobs Act as the crowning achievement of the Trump era. Yet many of those who announced their pro-growth tax relief for working families now support tax increases for these same families in the form of tariffs. Numerous studies they have shown that almost all of the costs of the tariffs initiated under the Trump administration were paid by American consumers and businesses. To take an example, the median price of a washing machine increased by $86 months after President Trump placed tariffs on them. According to the American Action Forum, Trump’s combined tariffs have increased consumer costs at about $51 billion a year.

RELATED ARTICLES

Trial begins for man accused of killing 22 elderly Texans

Dallas-- A man accused of killing 22 women in the Dallas area will stand trial in the death of one of them after being...

In a major shift, the UK scraps the tax cut for the wealthy that sparked market turmoil

British Prime Minister Liz Truss and Chancellor of the Exchequer...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

No. 14 Ole Miss holds off No. 7 Kentucky in victory

OXFORD, Mrs. (AP) — Lane Kiffin changed his mind about his defense after No. 14 Mississippi forced two turnovers in the final three minutes...

Vikings vs Saints: Weather, TV, Broadcast and Prediction for London Football!

The NFL International Series begins in Week 4, with the minnesota vikings other new orleans saints traveling across the puddle to face...

Man Utd’s Diogo Dalot targeted by Juventus, AC Milan and Barcelona

The summer transfer window is closed for Europe's top leagues. However, with an eye to January, there is a lot of gossip about...