“Trump’s proposed tariffs could add $272 billion a year to tax burdens,” said Karl Schamotta, chief market strategist at Corpay Cross-Border Solutions.
Thankfully, not every one of the dozens of tax- or fee-hike bills introduced each year will be enacted into law. Many are introduced simply as discussion-starters.
Clearly, tariffs are not more beautiful than love. It’s not even beautiful. What tariffs will do is take money out of your pockets and make life more financially difficult than it already is for millions of Americans.