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Dryers, which weren’t under the tariff, went up by about the same amount. Overall, the tariff increased costs to consumers by an estimated $1.5 billion annually.
Trump calls tariffs "the most beautiful word in the dictionary" and has even floated things like 2,000% tariffs on autos and said his aim in some areas is to implement "the highest tariff in history."
Vice President Kamala Harris called former President Donald Trump's tariff proposals "a sales tax on the American people," in an interview with MSNBC’s Stephanie Ruhle.
Under the most optimistic outcome, Trump’s tariffs would generate as much as $2.5 trillion over 10 years, according to an estimate by the pro-business Tax Foundation.
New U.S. tariffs on $18 billion in Chinese goods take effect Friday as trade tensions intensify between the world’s two largest economies.
The tariffs he imposed on China in his first term were continued by President Joe Biden, a Democrat who even expanded tariffs and restrictions on the world’s second-largest economy.
Harris deploys the phrase “Trump sales tax” in reference to Trump’s plan for additional tariffs in a potential second term. Trump told Fox Business last year that a tax on all imported goods ...
President Joe Biden said that he hopes Donald Trump "rethinks" imposing tariffs on Mexico and Canada. Trump has said he may impose a 25% tariff on the two allies' imports after he retakes office.