Tariffs Are Not Beneficial To Americans

So, why is Trump fighting for them?

Photo by Giorgio Trovato on Unsplash

In a victory for American consumers and business owners, especially small business owners, a U.S. appeals court ruled last Friday that most of Donald Trump’s tariffs are illegal. That’s great news because the tariffs have increased inflation and are slowing economic growth. Even though the tariffs brought in $29 billion for the month of July, and should do the same in forthcoming months, they are not boosting the economy. Furthermore, they come out the pocket of American consumers and businesses. Trump claims that he’s going to use the money to pay down the national debt, though that will be unlikely, because tariffs won’t be enough money to pay down the huge national debt. That’s especially since Trump’s Big Beautiful Bill will cost $3.4 trillion over the next decade in tax cuts. Money collected from tariffs over the same time period will only bring in $2–3 trillion dollars. That’s not enough money to pay off the debt from Trump’s Dumb Dastardly Bill. More importantly, the national debt is $37 trillion. It would take over 100 years for the tariffs to pay off national debt, and that’s if it doesn’t increase. Trump has also said that he could use tariffs to replace the income tax, and that’s also impossible.

Per NPR —

Well, it’s very big for tariff revenue. At that…