Source: CounterPunch
by Dean Baker
“As usual, the New York Times gets things exactly wrong in a piece headlined ‘Trump’s Tariffs are Making Money. That May Make Them Hard to Quit.’ The gist of the article is that the tariffs are on a path to raise close to $400 billion a year, and possibly considerably more, depending on where Trump ends up with his trade ‘deals.’ While this is in fact a very substantial sum, it makes for an obvious campaign issue for Democrats in 2026 and 2028. They can promise a huge tax cut to ordinary workers. At $400 billion, the tariffs come to an average of more than $3,000 per household annually. The Democrats can promise a large tax cut to working and middle-class families by rolling back the tariffs.” (08/06/25)