The Harris Administration
Official
Tariffs impact domestic firms that import foreign-made items.
When a tariff is placed on a product, any U.S.-based company that imports it must pay a percentage of that item’s price to the government.
Trump claims the revenue from these payments would be "yuge".
He claims he would use the revenue to fund tax cuts and subsidize child care.
He's claimed (without evidence) “those numbers are so much bigger than any numbers that we’re talking about, including child care”.
A business facing a tariff has 3 choices: cease operating, stop importing, or raise prices.
Checkmate, Donald.
When a tariff is placed on a product, any U.S.-based company that imports it must pay a percentage of that item’s price to the government.
Trump claims the revenue from these payments would be "yuge".
He claims he would use the revenue to fund tax cuts and subsidize child care.
He's claimed (without evidence) “those numbers are so much bigger than any numbers that we’re talking about, including child care”.
A business facing a tariff has 3 choices: cease operating, stop importing, or raise prices.
Checkmate, Donald.