Trump’s tariffs will be paid by the poor – while his tax cuts help the rich | Robert Reich
The math doesn’t work in the president’s economic promises, which will create a giant upward transfer of wealth
Donald Trump apparently believes his tariffs will bring so much money to the US treasury that the US will be able to afford another giant Trump tax cut.
But Trump’s tariffs – and the retaliatory tariffs already being imposed on American exports by the nation’s trading partners – will be paid largely by the American working class and poor.
Robert Reich, a former US secretary of labor, is a professor of public policy emeritus at the University of California, Berkeley. He is a Guardian US columnist. His newsletter is at robertreich.substack.com
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