Donald Trump is a habitual liar, but perhaps one of his biggest lies was his campaign promise that he'd bring down the cost of living on day one of his presidency. Instead, by slapping sweeping tariffs on dozens of countries around the world and launching a global trade war, President Trump has essentially placed a huge tax hike on Americans. To be clear, a tariff on imported goods is a sales tax. Despite what the administration wants you to think, foreign governments don't pay the tariffs for goods shipped to us — American companies that import those goods do. And those companies are likely to pass their higher costs onto American consumers. That means Americans will pay more for goods entering the United States from foreign countries, including food, clothing, home appliances and cars. And it's not just foreign goods that will cost Americans more money. This is a preview of Rep. Gregory W. Meeks' latest article. Read the full column here. |