US EditionTrump aide says tariffs will raise $6 trillion, which would be largest tax hike in US history
- Peter Navarro stated that President Donald Trump's tariffs are expected to generate $6 trillion in the next decade, which he claims would be the largest tax hike in U.S. History.
- Navarro argues that these tariffs will not be a tax increase but a tax cut, suggesting they will be paid by foreign businesses.
- Most economists disagree, stating that tariffs are typically paid by American businesses and consumers through higher prices on imported goods.
- Senator Mark Warner commented that the tariffs indeed constitute a tax, opposing Navarro's characterization.
37 Articles
37 Articles
GOP rep says ‘tariff is a tax’: ‘No question’
Rep. Pete Sessions (R-Texas) on Monday said a “tariff is a tax,” a day before the Trump administration’s imposition of “Liberation Day” reciprocal tariffs. In Sessions’ appearance on “CNN News Central,” a Monday opinion piece from The Wall Street Journal’s editorial board was brought up by anchor John Berman. “In the real economic world, a... The post GOP rep says ‘tariff is a tax’: ‘No question’ appeared first on Daily Truth Report • DailyTruth…
'Crowding out rational judgments'': WSJ dismantles Trump’s 'ideological fixation on tariffs'
Calling out the Trump administration over its attempts to present the planned tariff increase as “tax cuts,” the Wall Street Journal termed these tariffs “a large revenue heist.” “In the real economic world, a tariff is a tax,” the newspaper wrote in its Tuesday editorial. The editorial was a response to President Donald Trump’s chief trade adviser Peter Navarro who on Sunday told Fox News tariffs will raise about $600 billion a year and “about …
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