Trump's proposed import tariff would cost an extra $1,500 annually for Americans, according to a left-leaning think tank.
Trump has championed his tax plan as favoring US interests over China, but the think tank argues he misunderstands tariffs.
AdvertisementTrump's proposed import tariff would tack on an extra $1,500 per year for Americans, says a left-leaning Washington think tank.
AdvertisementThe think tank estimated Americans will face a whopping $3.2 trillion influx of foreign goods.
With a 10% tariff, that'd be an extra $300 billion in taxes on goods, roughly translating into $1,700 per household in the tariff's debut year.
Persons:
Trump's, Trump, —, Brendan Duke, Ryan Mulholland
Organizations:
American Progress, Service, White, Republican
Locations:
China, Washington