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If the last largest such tariff was WWII, Krasnov has brought the US to the brink of WWIII [1]
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Date: 2025-03-30
No recession is worth the cost when the assumptions require economic growth. This is a kind of warmongering, aside from its roots in creating economic chaos and achieving the syncretic goal of post-Soviet Russian oligarchs. Raising $6 Trillion means nothing when its costs could be the equivalent of $7 Trillion. April Fool’s Day + 1.
Here's some (Tax Foundation) context on the White House's Peter Navarro promising a tariff tax hike that comes to 2.22% of GDP
When Associated Press reporter Josh Boak asked about tariffs in the White House press briefing March 11, the exchange with White House Press Secretary Karoline Leavitt quickly became testy.
It also produced a sentence that left economists’ heads spinning: "Tariffs are a tax cut for the American people," Leavitt said.
After Leavitt said that, Boak responded, "I'm sorry, have you ever paid a tariff? Because I have. They don't get charged on foreign companies. They get charged on the importers."
Leavitt pushed back, calling his question "insulting."
"Ultimately," she said, "when we have fair and balanced trade, which the American people have not seen in decades, as I said at the beginning, revenues will stay here, wages will go up and our country will be made wealthy again."
Standard economic theory argues that tariffs are indeed a tax on the consumer, if not fully, then at least to a large degree. Most studies of Trump’s first-term tariffs showed that consumers were hurt, and the second-term tariffs he’s proposing would be more far-reaching than his first-term tariffs were, with potentially even bigger negative economic impacts.
www.politifact.com/...
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