Tariffs

MS NOW - Trump’s latest pledge to send “low- and middle-income” Americans a $2,000 tariff rebate check should be taken with a grain of salt. The biggest problem is that the math doesn’t add up, writes Philip Bump. Sending checks to everyone making less than $100,000, for example, would require $249 billion, far more than tariffs are likely to raise by year’s end. The other problem is that American consumers already pay 55% of tariff revenue, according to a Goldman Sachs analysis. That means that any tariff checks would just be moving money from one group of Americans to another. Read more.