The Real Secret Behind Trump’s Insane Tariff Obsession
Donald Trump aspires to replace the income tax, or as much of it as he can, with revenue from tariffs. He said so last June, and he repeated his intentions in his inaugural address. Yet the financial press keeps scratching its head over why Trump’s starting a trade war with Canada and Mexico by imposing 25 percent across-the-board tariffs and escalating an existing trade war with China by imposing a 10 percent across-the-board tariff.