Monday, December 26, 2016

Trump Team Prepares To Cram Down 10% Tariff on Americans

Jabin Botsford/The Washington Post via Getty Images
According to CNN, the incoming Trump administration is considering imposition of a 10 percent across the board tariff on American imports. That’s bad economic policy. But even worse, the Trump team wants to impose these tariffs through “executive action or as part of a sweeping tax reform package they would push through Congress.” In other words, the Trump team either wants to utilize either pure presidential power, or they want to use the desire for tax reform to cram down counterproductive tariffs.
A 10% tariff would also harm American consumers,who 
 would have to shoulder an indirect tax of at least 
$200 billion.
There are two issues to discuss here: the tariff policy, and the use of executive orders. Both are disastrous.
First, the tariff policy. Trump has apparently put Democrat Wilbur Ross in charge of economic policy, and Ross wants tariffs. He’s also put Peter Navarro, author of Death by China, on his National Trade Council; Navarro believes we’re in an undeclared trade war with China already. Noah Rothman of Commentary sums up the dangers well: ...
Read the rest from Ben Shapiro HERE.

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