US businesses and consumers bore 90% of the costs of US President Donald Trump’s tariffs, a New York Federal Reserve report showed, as his tariff regime comes under increasing pressure. The report undermines Trump’s claim that foreign companies would shoulder the burden of duties, the Financial Times noted. US lawmakers on Wednesday voted to remove tariffs on Canadian imports , a symbolic but “politically consequential rebuke” of the president’s signature policy tool. The US Supreme Court is also expected to rule on the tariffs’ legality.
GuyBelowMeDoesntLift on
I guess I don’t see what is that bad about this. It’s a tax. The incidence is mostly going to be on consumers. I think taxing imports is fair, most everyday needs are not imported
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US businesses and consumers bore 90% of the costs of US President Donald Trump’s tariffs, a New York Federal Reserve report showed, as his tariff regime comes under increasing pressure. The report undermines Trump’s claim that foreign companies would shoulder the burden of duties, the Financial Times noted. US lawmakers on Wednesday voted to remove tariffs on Canadian imports , a symbolic but “politically consequential rebuke” of the president’s signature policy tool. The US Supreme Court is also expected to rule on the tariffs’ legality.
I guess I don’t see what is that bad about this. It’s a tax. The incidence is mostly going to be on consumers. I think taxing imports is fair, most everyday needs are not imported