Opinion: Trump can’t admit he enacted a new tax
A monitor displays stock market information on the floor of the New York Stock Exchange on Monday. By Jennifer Rubin Jennifer Rubin Opinion writer covering politics and policy, foreign and domestic Email Bio Follow Opinion writer May 14 at 9:00 AM President Trump cannot admit that the short-term effects of his tariff war hurt Americans. He had to stop insisting China pays the tariffs when his economic adviser Larry Kudlow contradicted him on Fox News.
Put differently, “The new 25% tariff, combined with earlier duties imposed on $50 billion in Chinese shipments and on steel and aluminum, would cut U.S. employment by 934,000 and cost the average family of four $767 a year, according to a study by the Trade Partnership.” That could very well gobble up all the money the family saved from the Republican tax cuts.Steven Rattner, former car czar, explains, “If Mr.
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