Tariff is a tax hike on consumers -- Frederick W. Nagle
The whopping tax increase just enacted by Donald Trump, without the advice or consent of his own Republican-controlled Congress, belies his boast of reducing taxes. I refer to the 10 percent tariff on $200 billion of Chinese goods, which sounds like $20 billion extra to be paid yearly by American consumers. Oh well, it may reduce the deficit.
He also threatens to sanction foreign governments and corporations which continue to do business with Iran. President Trump had better hope foreigners do not counter-sanction, by declaring that American firms are no longer welcome in Europe or Asia.
After all, a lot of foreign restaurant owners would be happy to shut down McDonald’s or Kentucky Fried Chicken, and AirBus would like to be rid of Boeing.
Frederick W. Nagle, Madison