In Speech to Congress, Trump Promises More Tariff Madness
In the hours after President Donald Trump decided to slap new tariffs on all imports from Canada and Mexico, the stock market slumped and economists warned of rising prices and declining economic growth.
On Tuesday night, in an address to a joint session of Congress, Trump promised that the chaos would continue—with more tariffs on more imports.
“Whatever they tariff us, we tariff them. Whatever they tax us, we tax them. If they do non-monetary tariffs to keep us out of their market, then we do non-monetary barriers to keep them out of our market,” Trump said, referring to his ongoing plan to impose so-called “reciprocal tariffs” on nearly all imports.
“We will take in trillions of dollars and create jobs like we have never seen before,” the president promised.
Depending on the contours of those tariff proposals—which the White House says will be prepared by early April—the tariffs could generate substantial revenue for the Treasury. But those funds will be coming out of the wallets of American businesses and consumers, who will bear the brunt of the higher co
Article from Reason.com
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