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Politics : Formerly About Advanced Micro Devices
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From: Doren3/14/2024 5:40:11 AM
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Orange Mussolini proposes raising taxes

Trump has proposed a baseline 10% tariff on all U.S. imports and a levy of 60% or higher on Chinese goods.

“That would be a massive escalation in import taxes and have some really negative ramifications,” York said.

For example, a study from the Federal Reserve Bank of New York found that 2018 U.S. tariffs cost the typical household $419 per year.

The 10% tariff would raise taxes on U.S. consumers by more than $300 billion a year and could cause “retaliatory tax increases on U.S. exports from international trade partners,” according to the Tax Foundation.
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