#TrumpCongressSpeec

Trump on the economy

Trump’s tariffs: Trump, promoting his tariffs on imported foreign products, claimed that “we will take in trillions and trillions of dollars,” and he added that “I did it with China.” This is misleading at best. Tariffs are paid by US importers, not foreign exporters, and study after study, including one from the federal government’s bipartisan US International Trade Commission, found that Americans bore almost the entire cost of Trump’s first-term tariffs on Chinese products. It’s easy to find specific examples of companies that passed along the cost of the tariffs to US consumers.