She was the boss in the debate, is the one to beat in the race, and was right about the trade tariff being sales tax passed unto the consumer. Here is the analyses by the Heritage Foundation, a Conservative think-tank.
In the past two years, the Trump Administration has imposed tariffs on goods imported from several U.S. trading partners, including Canada, Mexico, the European Union, and China. While it appears that the Administration believes tariffs are a good negotiating tactic,1 Americans are literally paying the priceโbecause tariffs are taxes. In the Economic Report of the President, the White House and Council of Economic Advisers stated, โ$14.4 billion in revenue was collected from goods subject to new tariffs.
How Do Tariffs Work?
A tariff is a government-imposed tax on goods imported into a country. Imposing a tax on imports makes them more expensive. The governmentโs goal is to increase revenueโbut another aim is to reduce the amount of goods people import.
Many people believe that when tariffs are imposed on a country, that country bears the costs. However, this is not the case. Tariffs are paid by an individual or business importing the subjected good. When a government collects revenue from tariffs, it is collecting it from its own citizensโnot from the citizens of the country upon whose goods tariffs were imposed.
For example, when Mid Continent Steel and Wire in Missouri imports steel, it purchases from another business in a different country, such as Canada. Mid Continent Steel and Wire has to pay the tariff because tariffs are the subject of domestic law. It is easier for buyers to navigate and comply with domestic law, so it has become an industry practice for buyers (importers) rather than sellers (exporters) to pay the required tariffs.4
www.heritage.org
In the past two years, the Trump Administration has imposed tariffs on goods imported from several U.S. trading partners, including Canada, Mexico, the European Union, and China. While it appears that the Administration believes tariffs are a good negotiating tactic,1 Americans are literally paying the priceโbecause tariffs are taxes. In the Economic Report of the President, the White House and Council of Economic Advisers stated, โ$14.4 billion in revenue was collected from goods subject to new tariffs.
How Do Tariffs Work?
A tariff is a government-imposed tax on goods imported into a country. Imposing a tax on imports makes them more expensive. The governmentโs goal is to increase revenueโbut another aim is to reduce the amount of goods people import.
Many people believe that when tariffs are imposed on a country, that country bears the costs. However, this is not the case. Tariffs are paid by an individual or business importing the subjected good. When a government collects revenue from tariffs, it is collecting it from its own citizensโnot from the citizens of the country upon whose goods tariffs were imposed.
For example, when Mid Continent Steel and Wire in Missouri imports steel, it purchases from another business in a different country, such as Canada. Mid Continent Steel and Wire has to pay the tariff because tariffs are the subject of domestic law. It is easier for buyers to navigate and comply with domestic law, so it has become an industry practice for buyers (importers) rather than sellers (exporters) to pay the required tariffs.4
Do No Harm: Tariffs and Quotas Hurt the Homeland
Introduction In the past two years, the Trump Administration has imposed tariffs on goods imported from several U.S. trading partners, including Canada, Mexico, the European Union, and China.
www.heritage.org
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