Trump’s tariffs are going to eat away at the economy and eat away at the bonus tax cuts.
When U.S. importers pay the tariffs, the costs of the tariffs are passed on to the consumer. This tariff raise is going to hurt small business, making them raise their prices, which are passed on to the consumers who already are reeling from the previous tariffs.
China is surely going to retaliate, which will be a double whammy for the U.S.
President Trump has imposed 25% tariffs on $250 billion in Chinese goods and Trump, with his great fake of “the art of the deal,” is backfiring.
To add salt to the wound, the “Art of the Deal” faker is going to add $325 billion in Chinese imports.
At this point in time the farmers and the small business have been monetarily affected.
Just like Mexico is going to pay for the wall, the deal maker has said that the tariffs have been paid for by Chinese.
Tariffs are taxes, plain and simple, and paid for by the U.S. consumer, workers and businesses, not by China.
The great economy that Trump has over-emphasized is going to have the wind taken out it.
The U.S.-China trade war just got worse, and there is no quick fix for relations, thanks to Trump.