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Tariffs are taxes.
Tariffs are regressive taxes.
Tariffs are distortionary, regressive taxes.
Tariffs are distortionary, regressive taxes that raise prices for US businesses and consumers.
Tariffs are taxes.
Tariffs are regressive taxes.
Tariffs are distortionary, regressive taxes.
Tariffs are distortionary, regressive taxes that raise prices for US businesses and consumers.
We estimate Trump's 25% tariffs on Canada and Mexico and 10% tariffs on China will:
🔹 Increase taxes by $1.2T (2025-2034)
🔹 Reduce GDP by 0.4%
🔹 Reduce employment by 344k jobs
🔹 Result in an average tax increase of $830 per US household (2025)
Corporate tax rates have been declining in every region around the world over the past four decades as countries have recognized their negative impact on business investment: buff.ly/3qCIJhT@ElkeAsen