November 21, 2019
This was in the context of the tariffs he has imposed on imports from China. According to the Washington Post, Trump boasted:
“I like what’s happening right now. We’re taking in billions and billions of dollars.”
Tariffs, of course, are taxes on imports. The evidence is overwhelming that the vast majority of these taxes are being borne either by consumers or retailers in the United States. According to the Bureau of Labor Statistics, the price of imports from China has fallen just 1.6 percent over the last year. This means that people in the United States are paying the overwhelming majority of the tariffs that run as high as 25 percent and apparently Donald Trump is very happy about that.
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