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Now that Trump has put increased import taxes on things, how soon should we expect prices to rise on everything we buy?
10 Answers
- Lord BaconLv 74 years agoFavorite Answer
That will be one side of the problem.
The other side is that countries whose goods get penalised will respond by putting a tax on goods from the USA, so US exports will decline and jobs will be lost in the USA.
Protectionism has ALWAYS been shown to have a bad effect.
- RobertLv 74 years ago
Sorry but he didn't do this moron... that takes Congress to do. You're thinking Obama is still in office by-passing again.
- Anonymous4 years ago
only the House can put taxes on things.
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- 4 years ago
Not under Trump. Remember the decreased regulations he has already started removing? Business will be forced to pass the savings along. Workers will earn more. Prices will drop. Shareholders will earn more on investments.
Trump is going to tax wire transfers into Mexico. No skin off my nose.
- Anonymous4 years ago
Kind of like raising the minimum wage, huh?
- Anonymous4 years ago
He cant raise taxes , Congress has to vote on it