Washington Post - President
Donald Trump said Wednesday that he will impose a new 10 percent tariff
on all imported goods along with an additional punitive import tax
tailored for each of about 60 countries that his advisers say maintain
the most unfair barriers against U.S. products.
The president’s long-awaited tariff plan is designed to spur a renaissance
in domestic manufacturing and to fill government coffers with tax
revenue, even as many economists warn that he is steering the U.S.
economy toward slower growth and higher prices.
The
president’s latest trade initiative represents a breathtaking political
gamble. After returning to the White House on a wave of public anger
over inflation, Trump is now asking voters to put up with a renewed
period of rising prices in return for the distant promise of rebuilding
domestic manufacturing.
Already,
economists are warning that Trump’s tax increase on imported goods will
mean sticker shock on some of Americans’ most important purchases,
including groceries, cars and homes.
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