Source: Reason
by Eric Boehm
“Okay, so we’re doing this. President-elect Donald Trump says in no uncertain terms that he’ll seek to raise taxes on imports immediately after taking the oath of office. ‘On January 20, as one of my many first executive orders, I will sign all necessary documents to charge Mexico and Canada a 25% tariff on ALL products coming into the United States,’ Trump posted Monday night on Truth Social. … One might object to the idea that it makes any sense at all to solve the issue of undocumented border crossings with tariffs (it doesn’t), or address the flow of illegal drugs with taxes on legally imported goods (it really doesn’t). Even so, the most striking thing about Monday’s announcement is that Trump seemingly still does not understand it will be Americans who will foot the bill for any new tariffs.” (11/26/24)