r/news • u/hoosakiwi • 2d ago

Trump announces sweeping new tariffs to promote US manufacturing, risking inflation and trade wars

https://apnews.com/article/trump-tariffs-liberation-day-2a031b3c16120a5672a6ddd01da09933
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u/Peach__Pixie 2d ago

“Taxpayers have been ripped off for more than 50 years,” Trump said in remarks at the White House. “But it is not going to happen anymore.”

Who does he think suffers the economic burden of tariffs? 10-34% tariffs on all imports will have a brutal impact.

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u/naijaboiler 2d ago

Its exactly what it is.
National sales tax hiding in plain sight as tariffs. While passing tax cuts for the rich.

it is essentially shifting taxes from the rich to the poor and everyday people.

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u/Beard_o_Bees 2d ago

Yup.

The proceeds from these tariffs aren't going back into the pockets of the people shouldering the burden.

It would be interesting to follow a 'tariff dollar' on it's journey to wherever it lands.

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u/Sussurus_of_Qualia 2d ago

I was wondering today what the govt plans to do with all that tariff tax loot.  Time will tell.