Do I have this straight?
Donald Trump wants to impose tariffs on goods coming to the United States from Mexico until our southern neighbor ends illegal immigration from Mexico into the United States.
Is that what he wants to do?
Well, why is the U.S. Chamber of Commerce, other business groups friendly to Republican politicians (such as the president), and GOP politicians (such as U.S. Sen. John Cornyn of Texas) so angry with Trump over the tariff threat?
Earth to POTUS: Tariffs don’t punish the countries that send goods into this country; they punish U.S. consumers who will pay more for those goods to cover the cost of the tariff.
The stock market took a header today. My retirement fund — not to mention the funds of millions of other Americans — also took a hit. Will it come back? I certainly hope so.
This tariff notion once again flies in the face of whatever passes for economic policy that emanates from the White House.
Donald Trump is conflating immigration policy with economic policy. He is seeking to damage one of this nation’s pre-eminent trading partners. Mexico clearly doesn’t want the tariff imposed, particularly since Mexico, the United States and Canada are supposedly set to agree to a new “free trade agreement” among the three nations.
It’s called the United States/Mexico/Canada Agreement, aka USMCA. It replaces the North American Free Trade Agreement, which Trump called one of the worst trade deals in human history … or words to that effect.
How in the world does this tariff play in the context of the pending USMCA?
My view? It doesn’t play well at all!
Meanwhile, U.S. consumers are going to be the primary victims of yet another scatter-shot presidential economic policy.
This is not how you “put America first,” Mr. President.