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Former President Donald Trump has described tariffs as “the greatest thing ever” and claimed that imposing large tariffs on foreign goods entering the U.S. is essential for the economy to thrive. He believes tariffs will create more factory jobs, reduce the federal deficit, lower food prices, and enable the government to subsidize childcare.
In contrast, Vice President Kamala Harris has dismissed Trump’s tariff proposals as unserious. Harris’s campaign cited a report indicating that Trump’s proposed 20% universal tariff would cost a typical American family nearly $4,000 per year.
Watch the video above as Straight Arrow News contributor David Pakman explains how Trump’s proposed tariffs would lead to rising U.S. consumer prices and more inflation.
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The following is an excerpt from the above video:
Donald Trump has said 10%-20% tariffs on China. He offhandedly recently threatened the company John Deere with 200% tariffs if they go forward with moving some manufacturing to Mexico, as they are reportedly considering doing.
And then Mitch McConnell was recently asked about this — Republican Senator Mitch McConnell, ‘What do you think’ — and Mitch McConnell said, ‘I’m not a fan of tariffs. They raise prices for American consumers.’
One of the things that’s not disputed among economists, and even among Republican and Democratic senators, is that as a general principle, the broad, sweeping tariffs that Donald Trump wants to do — everything from China — for example, will generate inflation and they will raise prices for American consumers.
