Universal Tariffs and Economic Impacts

This chapter explores the financial consequences of implementing universal tariffs in the U.S., considering their potential to generate substantial government revenue while falling short of tax cut goals. It also examines the adverse effects on lower and middle-income families, the implications for U.S. businesses and farmers, and the political discourse within the Republican Party regarding trade policy. The discussion underscores the uncertainty surrounding tariffs, tax reforms, and their influence on the economy under a new administration.