AP FACT CHECK: 'Tariff Man' Trump wrong on import taxes
December 5, 2018
WASHINGTON (AP) — President Donald Trump promised on Twitter that tariffs would maximize the country's economic heft and "MAKE AMERICA RICH AGAIN."
Almost all economists say the president is wrong. That's because tariffs are taxes on imports. They can cause higher prices, reduce trade among countries and hurt overall economic growth as a result.
The president's tweet on Tuesday followed an announcement that the U.S. would not increase a 10 percent tariff on $200 billion of Chinese goods in 2019. The two largest countries are in the middle of negotiating their terms of trade, after Trump s...