Donald Trump in The Economist


On Tax Reform: OpEd: across-the-board tariffs are a sales tax in disguise

One of the best things that can be said for Ms Harris's economic agenda is that it will probably be less damaging than Mr Trump's. She is clearly against the tariff increases her opponent has promised. Many of her proposals amount to adjustments to existing policies, rather than representing a wholesale recrafting of America's economic system. Mr Trump, by contrast, may be able to use the power of the presidency to slap across-the-board tariffs on all imports to America, the central plank of his economic programme--and one that Ms Harris has criticised, correctly, as being a sales tax in disguise.

"Trump really seems to think that we'd be better off as an autarkic economy," says [a Harvard analyst]. "Harris helped to implement a lot of buy-American rules, so it seems she's bought into the anti-globalisation stuff to some extent."

"Not as bad as the other candidate" would be a poor campaign slogan. It is, however, an accurate summary of Ms Harris's economic plans. ¦

Source: The Economist on 2024 Presidential hopefuls Aug 21, 2024

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