It’s official: The latest round of tariffs now means that the total tax increase on Americans from enacted tariffs exceeds the tax increases from the Affordable Care Act, (un)popularly known as “Obamacare.”
On Sept. 19, President Trump imposed a 10 percent tax on $200 billion of Chinese imports. On Jan. 1, 2019, this tax will rise to 25 percent. But even without that January tariff rate increase, trade taxes on American businesses and consumers will exceed those of the ACA.
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