Tariffs imposed so far by the Trump administration are equivalent to one of the largest tax increases in decades: analysis buff.ly/35Zgy1v
Tariffs threaten nearly 40% of the total long-run impact of the Tax Cuts and Jobs Act: tax.foundation/2YgPCuC @ericadyork 
@ericadyork When countries erect trade barriers like tariffs, consumers pay more for goods than they otherwise would have, businesses face higher costs than they otherwise would have, and on net, output and employment fall.
The Trump administration has so far imposed more than $88 billion worth of new taxes on Americans by levying tariffs on thousands of products: tax.foundation/TariffsAreTaxes @ericadyork
We estimate that if all U.S. and retaliatory tariffs announced so far are imposed:
📈It would amount to a $206.57 billion tax increase
📉U.S. GDP would fall by ~$168 billion in the long run
📉Wages would fall by 0.44%
📉Employment would fall by ~520,500 FTE jobs
@ericadyork
📈It would amount to a $206.57 billion tax increase
📉U.S. GDP would fall by ~$168 billion in the long run
📉Wages would fall by 0.44%
📉Employment would fall by ~520,500 FTE jobs
@ericadyork
