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According to the X -Post of the Washington Post, Trump Trade Adviser Peter Peter Navarro said Trump plans to impose a $ 600 billion tariff every year for 10 years.
Today, Peter Navarro: Trump’s tariffs seem to reflect the report that Trump wants to go to tariffs, regardless of short -term economic results for 10 years, or for 10 years.
Navarro’s video:
Trump’s proposed tariffs will be 2.2%of GDP to put this in the context.
Next is the chart Tax foundation The largest tax increase with the percentage of GDP in American history:
In 1941, 1941 stood in line because Pearl Harbor was attacked and the United States was in World War II.
Another tax increase in 1950 and 1951 was during the Korean War and 1943 was World War II.
The biggest peaceful tax increase in American history was 1968, and Trump’s tariffs are twice as much as the GDP ratio.
Economic and Policy Research Center Bill Clinton and Barack Obama mentioned that the Republicans lost their minds when the tax hike supervised a much smaller tax increase.
Obama and Clinton tax hikes were about 1/5, one -third of Trump’s tariffs.
