Source: Cato Institute
by Colin Grabow
“The U.S. economy is staring down the barrel of a tax increase to the tune of several hundred billion dollars. If the Trump administration follows through with its threats (never a sure thing), we will this week see the imposition of so-called reciprocal tariffs to ostensibly match the burden placed by other countries on U.S. exports. As President Donald Trump and administration officials tell it, the move is rooted in a desire to stop foreign countries from ripping Americans off through unfair trade. But such claims warrant considerable skepticism. The administration’s words and actions make it increasingly clear that this reciprocity talk is just a fig leaf for higher tariffs. They aren’t a means to an end but the end themselves. And unless Congress acts − an unlikely proposition − American businesses and consumers alike will suffer.” (03/31/25)
https://www.cato.org/commentary/brace-impact-america-trumps-tariffs-will-soon-hit-bank-accounts