In other cases #tariffs could backfire on the #US #economy, by inviting retaliation from foreign govts & raising costs for #consumers. Economic research has indicated that the cost of tariffs tend to be borne by #American #businesses & #households, rather than #ForeignCompanies.
“#Trump seems drawn to trade tariffs as a bargaining tool w/other countries because tariffs have powerful domestic #political #SYMBOLISM…,” said Eswar Prasad, a trade economist at Cornell U.

#TariffsTaxEverydayAmericans

#Trump has long maintained that imposing tariffs on foreign products can protect American #factories, narrow the gap between what the #UnitedStates #exports & what it #imports, and bring uncooperative foreign govts to heel. While in office, Trump used the threat of #tariffs to try to convince #Mexico to stop the flow of undocumented #immigrants across the US border, & to sway #China to enter into a trade deal w/the #US.

#economy #TariffsTaxEverydayAmericans
#debate #election #policy #USpol