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Trump's Tariffs Will Need More than Hype to Succeed
Tariffs have generated over $100 billion in revenue, but American importers bear higher costs, limiting economic benefits, Commerce Secretary Howard Lutnick said.
- By July, the White House social media account crowed that tariffs generated OVER $100 BILLION in revenue, framing them as a success.
- Amid economic debates, Trump declared, `tariffs are working as intended`, making him the first Republican president to boast that higher taxes benefit Americans.
- Last month, the government collected $29 billion, with American importers paying the tariff, while Commerce Secretary Howard Lutnick expects between $700 billion and $1 trillion annually.
- Critics warn that declaring 'Mission Accomplished' for the macro economy won't convince micro-economies they’re better off, as evidence suggests looming problems.
- Despite stratospheric estimates from Trump world, real evidence may take time to materialize, creating uncertainty about long-term success.
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15 Articles
15 Articles
The Times of Northwest Indiana+11 Reposted by 11 other sources
Trump's tariffs will need more than hype to succeed
On May 1, 2003, President George W. Bush an-nounced, "Major combat operations in Iraq have ended." He was standing below a giant banner that read, "Mission Accomplished." Subsequent events didn't cooperate.
·Cherokee County, United States
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The Quad-City Times+2 Reposted by 2 other sources
Trump’s tariffs will need more than hype to succeed
On May 1, 2003, President George W. Bush announced, “Major combat operations in Iraq have ended.” He was standing below a giant banner that read, “Mission Accomplished.” Subsequent events didn’t cooperate.
·Cherokee County, United States
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Total News Sources15
Leaning Left0Leaning Right0Center15Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
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