“‘This is a man who now wants to go and put 10% tariffs across the board, raising taxes on every single American. Think about that for a second.’”
— Nikki Haley, Republican presidential candidate
That line above came Monday from Republican presidential hopeful Nikki Haley in a CNBC interview, as she stepped up her attacks on rival Donald Trump ahead of next month’s GOP primary in her home state of South Carolina. She was referring to a proposal that Trump made last year to put a 10% tariff on all imports to the U.S.
“We’ve got to let the American people know that what Donald Trump’s about to do to you is going to raise every household’s expenses by $2,600 a year,” Haley said during the interview, as she appeared to use a cost estimate from the National Taxpayers Union. “They’re gonna raise the cost of anything from baby strollers to appliances under Donald Trump. Middle-class families can’t afford that.” A range of economists have criticized Trump’s suggestion of sweeping 10% tariffs, which he floated in a Fox Business interview on Aug. 17. One economist from the Tax Foundation, a think tank in Washington, D.C., has said the plan would amount to a tax hike of more than $300 billion a year on American consumers. The foundation has noted that while tariffs get described as a tax on foreign companies, the costs are often borne by consumers in the nation that’s imposing the tariffs. Trump’s 2024 campaign has blasted the Tax Foundation’s analysis, saying it’s an “economically illiterate statement put forward by a globalist Washington think tank funded by multinational corporate interests that are totally opposed to President Trump’s pro-worker, pro-American trade agenda.” One adviser to the former president, Stephen Moore, told MarketWatch earlier this month that the new 10% tariff could pay for tax cuts. Moore also argued that the U.S. is “in a trade war already,” and it’s a matter of “just leveling the playing field.” Separately, Trump has discussed with advisers the possibility of imposing a new 60% tariff on all Chinese imports, according to a Washington Post report over the weekend that cited unnamed sources. Trump has an 88% chance of winning the GOP nomination and moving on to the general election vs. President Joe Biden, according to betting markets tracked by RealClearPolitics. Haley’s chances stand at around 7%. Related: How betting markets got the 2022 midterm elections wrong In South Carolina, Trump has a 30-point lead in polls …
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“‘This is a man who now wants to go and put 10% tariffs across the board, raising taxes on every single American. Think about that for a second.’”
— Nikki Haley, Republican presidential candidate
That line above came Monday from Republican presidential hopeful Nikki Haley in a CNBC interview, as she stepped up her attacks on rival Donald Trump ahead of next month’s GOP primary in her home state of South Carolina. She was referring to a proposal that Trump made last year to put a 10% tariff on all imports to the U.S.
“We’ve got to let the American people know that what Donald Trump’s about to do to you is going to raise every household’s expenses by $2,600 a year,” Haley said during the interview, as she appeared to use a cost estimate from the National Taxpayers Union. “They’re gonna raise the cost of anything from baby strollers to appliances under Donald Trump. Middle-class families can’t afford that.” A range of economists have criticized Trump’s suggestion of sweeping 10% tariffs, which he floated in a Fox Business interview on Aug. 17. One economist from the Tax Foundation, a think tank in Washington, D.C., has said the plan would amount to a tax hike of more than $300 billion a year on American consumers. The foundation has noted that while tariffs get described as a tax on foreign companies, the costs are often borne by consumers in the nation that’s imposing the tariffs. Trump’s 2024 campaign has blasted the Tax Foundation’s analysis, saying it’s an “economically illiterate statement put forward by a globalist Washington think tank funded by multinational corporate interests that are totally opposed to President Trump’s pro-worker, pro-American trade agenda.” One adviser to the former president, Stephen Moore, told MarketWatch earlier this month that the new 10% tariff could pay for tax cuts. Moore also argued that the U.S. is “in a trade war already,” and it’s a matter of “just leveling the playing field.” Separately, Trump has discussed with advisers the possibility of imposing a new 60% tariff on all Chinese imports, according to a Washington Post report over the weekend that cited unnamed sources. Trump has an 88% chance of winning the GOP nomination and moving on to the general election vs. President Joe Biden, according to betting markets tracked by RealClearPolitics. Haley’s chances stand at around 7%. Related: How betting markets got the 2022 midterm elections wrong In South Carolina, Trump has a 30-point lead in polls …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]