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Tariffs are Taxes

@jmatsby.bsky.social
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Reposted by Tariffs are Taxes
The Associated Press @apnews.com · 25/08/2026
BREAKING: Canada will impose retaliatory tariffs on more than 700 U.S. goods, including steel and appliances, as the trade war escalates.
bit.ly
Live updates: Canada expected to announce retaliatory tariffs against the US
Canada will announce retaliatory tariffs against the U.S. on Tuesday after relations between U.S. President Donald Trump and Canadian Prime Minister Mark Carney deteriorated.
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HuffPost @huffpost.com · 24/08/2026
The list of goods hit by a 50% tariff includes alcohol, dairy and a slew of other products.
huffpost.com
U.S. Consumers Could Soon Pay More For These Items. Thanks, Trump.
U.S. Consumers Could Soon Pay More For These Items. Thanks, Trump.
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Bloomberg Opinion @opinion.bloomberg.com · 22/07/2026
A 50% tariff on aluminum imports didn't convince producers to invest in smelters in the US. Why does the White House think halving the levy will do the trick?
bloom.bg
The World’s Dumbest Tariff Just Got a Lot Dumber
Earlier this year, my Bloomberg Opinion colleague Scott Lincicome made a convincing case for why the tariffs placed on aluminum imports to the US may be the dumbest of all the Trump administration’s duties. Things got a lot dumber this week.
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Victor Shi @victorshi.bsky.social · 12/07/2026
Whew. Maggie Haberman confirms today that Trump was surprised by his *own* tariff numbers and rates: “At one point, he didn’t realize how high China’s tariffs burden had gotten. It was up to 145% & his reaction was holy shit…It’s not a formula. It’s a gut feeling.”
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Yahoo Finance @yahoofinance.com · 09/07/2026
New York Fed says many businesses are not finished raising prices to offset tariffs
yhoo.it
New York Fed says many businesses are not finished raising prices to offset tariffs
Nearly half of firms that paid tariffs plan additional price increases, with some expecting to raise prices six months or more in the future, according to a new survey from the New York Federal Reserve.
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Carl Quintanilla @carlquintanilla.bsky.social · 10/07/2026
WSJ EDITORIAL BOARD: “.. the President is right that his tariffs are at work — in destroying U.S. jobs .. The U.S. has lost some 75,000 manufacturing jobs since January 2025 .. “His trade oscillations and border taxes are a major reason .. why Americans are so unhappy.” www.wsj.com/opinion/how-...
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Reuters @reuters.com · 10/07/2026
Fed report cites 'stepped-up' inflation due to tariffs, Iran war, AI buildout reut.rs/4bhkpek
reut.rs
Fed report cites 'stepped-up' inflation due to tariffs, Iran war, AI buildout
U.S. inflation "stepped up further this spring" as the ​evolving impact of tariffs, a war-related rise in energy costs, and the booming artificial intelligence buildout boosted price pressures that took root last year, the Federal Reserve said on Friday ‌in a monetary policy report to Congress.
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The New York Times @nytimes.com · 26/06/2026
President Trump threatened on Friday to impose a 100% tariff on the exports of any country that implements a digital services tax. It was unclear how quickly he could impose any such levies. Follow live updates. trib.al/zeRpyCS
trib.al
Trump Live Updates: President Threatens 100 Percent Tariffs on Europe Over Tech Taxes
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Yahoo Finance @yahoofinance.com · 03/06/2026
Trump administration announces new duties on much of the world as permanent tariff plans take shape
yhoo.it
Trump administration announces new duties on much of the world as permanent tariff plans take shape
The Trump administration announced plans for a 10% tariff on top allies and a 12.5% rate on other nations, including China.
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Bloomberg News @bloomberg.com · 01/06/2026
Trump's ill-conceived tariffs are hitting Americans twice: first through higher prices and then through lower wages (via Bloomberg Opinion)
bloom.bg
Tariffs Two Biggest Losers? You and You Again
It’s widely understood that the Trump administration’s ill-conceived decision back in April 2025 to impose broad “reciprocal” tariffs on US imports from around the world, even on an island inhabited only by penguins, has made the goods that Americans buy more costly. Need new dishes? Those prices were up 15.4% in April from a year earlier. A men’s shirt? Up 7.7%. Some jewelry for a significant other? Up 16.1%. Accessories for your personal computer? Up 13.9%
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Catherine Rampell @crampell.bsky.social · 28/05/2026
Dallas Fed estimate for how much lower inflation would be without Trump tariffs www.dallasfed.org/research/eco...
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NBC News @nbcnews.com · 27/05/2026
The Trump administration has refunded more than $20 billion so far in tariffs to importers and shippers, according to a court filing, after the Supreme Court struck down the cornerstone of President Trump’s trade policy in February.
nbcnews.to
$20 billion in tariff refunds paid so far, with more on the way
The Trump administration said more than 4,000 importers who applied for refunds had not provided the bank information needed to process their refunds.
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NPR @npr.org · 22/04/2026
While shipping companies are pledging refunds for customers who directly paid tariff fees, the situation is much trickier for retailers. n.pr/4mKDQAV
n.pr
The tariff refund process has begun for businesses. What about customers?
While shipping companies are pledging refunds for customers who directly paid tariff fees, the situation is much trickier for retailers.
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Schooley @schooley.bsky.social · 09/03/2026
Still crazy that the president’s lawyer spent two days with Ghislaine Maxwell, she “cleared” him of wrongdoing and was almost immediately transferred to a more pleasant prison and nobody in the administration will explain it and the media acts like two large dots are just impossible to connect.
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Carl Quintanilla @carlquintanilla.bsky.social · 02/03/2026
Tariffs are “having the exact opposite effect of their intention ..” (via Vital Knowledge) #ISM
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NBC News @nbcnews.com · 20/02/2026
BREAKING: The Supreme Court strikes down most of Trump’s tariffs in a major blow to the president's agenda.
nbcnews.to
Supreme Court strikes down most of Trump's tariffs in a major blow to the president
The decision does not affect all of Trump's tariffs but invalidates those implemented using an emergency law.
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Yashar Ali 🐘 @yasharali.bsky.social · 20/02/2026
BREAKING In a 6–3 decision, the Supreme Court of the United States ruled that President Trump’s use of emergency tariffs was unlawful. Justices Clarence Thomas, Samuel Alito, and Brett Kavanaugh dissented. Chief Justice John G. Roberts authored the majority opinion.
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Justin Wolfers @justinwolfers.bsky.social · 20/02/2026
Key issue to bear in mind as you watch today's political response to the Supreme Court tariff decision: The Court didn't say that the US can't issue tariffs, simply that the President has to convince (the Republican-controlled) Congress first. If tariffs are great, that should be easy to do.
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David Corn @davidcorn.bsky.social · 20/02/2026
Trump brazenly violated the Constitution. An entire political party went along with this. He seized power no president has, and he wielded it arbitrarily to serve his own ego. Finally, a restraint is imposed on the Mad King. Better late than never. But it has taken too long.
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Joey Politano🏳️‍🌈 @josephpolitano.bsky.social · 20/02/2026
Trump will have a plan to reconstruct a lot of his tariffs after this SCOTUS ruling through a combination of other legal authorities (232, 301, 122). But those authorities are more narrow and process-intensive, so he has lost the ability to just rapidly slap tariffs on any country on a day's notice
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Carl Quintanilla @carlquintanilla.bsky.social · 13/02/2026
BREAN: January core goods prices are now “1.6% higher than January 2025. The pace of increase in these prices is not, in itself, alarming but the trend is unmistakably upwards. Until this measure of price increases stabilizes .., no one can claim that peak tariff pressures have passed ..” #CPI
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Menzie Chinn @mchinn.bsky.social · 15/02/2026
Who would'a thunk it? Ground coffee prices stabilize, ground beef price growth decelerates after tariff removal... It's like basic trade theory works! #EconSky @taxpolicycenter.bsky.social
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Aaron Sojourner @aaronsojourner.org · 09/02/2026
"The Trump tariffs amount to an average tax increase per US household of $1,000 in 2025 and $1,300 in 2026.... "The Trump tariffs are the largest US tax increase as a percent of GDP (0.54 percent for 2026) since 1993." @taxfoundation.bsky.social taxfoundation.org/research/all...
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Bob Burgess @bobburgess.bsky.social · 09/02/2026
"...the nonpartisan Tax Foundation found that the president’s trade policies cost U.S. households about $1,000 on average last year, matching the average refund...touted by administration officials like Treasury Secretary Scott Bessent and top GOP lawmakers..."   www.politico.com/newsletters/...
politico.com
The tariff man taketh
New research from the nonpartisan Tax Foundation found that the president’s trade policies cost U.S. households about $1,000 on average last year.
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Catherine Rampell @crampell.bsky.social · 30/01/2026
"Caterpillar Inc, which imports raw materials and parts for construction equipment, said it expects the president’s levies to cost about $2.6 billion this year." www.bloomberg.com/news/article...
bloomberg.com
Soaring Industrial Shares Face Headwinds From Trump Trade Policy
Earnings reports from some of the largest US manufacturers and transportation companies this week drove home how President Donald Trump’s policies on trade and energy are putting a squeeze on the sect...
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The Washington Post @washingtonpost.com · 24/01/2026
President Trump threatened to impose 100 percent tariffs on all Canadian goods if the country “makes a deal with China,” a week after he said Prime Minister Mark Carney striking a trade deal with Beijing was “good” and what he “should be doing.”
washingtonpost.com
Trump threatens 100% tariffs on Canada over China deal
Canada’s Mark Carney drew a standing ovation — and Trump’s ire — in Davos this week for an address in which he said the U.S.-led international order was “over.”
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Steve Craven @kekepana.bsky.social · 18/01/2026
Mainstream media may finally be getting the idea. The surest way to kill business is to introduce unnecessary uncertainty.
theguardian.com
Trump tariff threats are bad, but the uncertainty they instil is much worse
The spectre of rising inflation, slowing global trade and jittery markets has re-emerged as US economic policy divorces itself from any logic
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NBC News @nbcnews.com · 17/01/2026
BREAKING: Trump announces a new 10% tariff on Denmark and seven other European countries until a deal is reached for the U.S. purchase of Greenland.
nbcnews.to
Trump announces 10% tariff on eight European countries until there is a deal to buy Greenland
Trump said the new 10% duties would increase to 25% on June 1, unless a deal is reached.
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Bob Burgess @bobburgess.bsky.social · 12/01/2026
More evidence that the Trump administration's trade policies are forcing the rest of the world to forge closer ties at the expense of the United States: www.bloomberg.com/news/article...
bloomberg.com
EU Trade Deal With Mercosur Defies Trump’s Protectionism
The European Union and Mercosur have delivered their long-sought trade pact, along with a political statement few could have imagined when talks began 25 years ago.
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Joey Politano🏳️‍🌈 @josephpolitano.bsky.social · 08/01/2026
Average effective US tariff rates—which measure total tariff revenue as a % of total imports—inched to a new modern high of just under 11% in data released today, up from just over 2.3% this time last year
a graph showing average effective tariff rates, as a % of imports
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PBS News @pbsnews.org · 01/01/2026
President Donald Trump signed a New Year's Eve proclamation delaying increased tariffs on upholstered furniture, kitchen cabinets and vanities for a year, citing ongoing trade talks. to.pbs.org/3YSGY2o
pbs.org
Trump delays increased tariffs on upholstered furniture, kitchen cabinets and vanities for a year
Trump's order signed Wednesday keeps in place a 25% tariff he imposed in September on those goods, but delays for another year a 30% tariff on upholstered furniture and 50% tariff on kitchen cabinets ...
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The Washington Post @washingtonpost.com · 27/12/2025
Corporate bankruptcies surged in 2025, rivaling levels not seen since the immediate aftermath of the Great Recession, as import-dependent businesses absorbed the highest tariffs in decades.
washingtonpost.com
Bankruptcies soar as companies grapple with inflation, tariffs
Businesses in vulnerable sectors found themselves caught between rising tariffs and beleaguered consumers.
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PBS News @pbsnews.org · 27/12/2025
Consumers were less confident in the economy in December as Americans grow anxious about high prices and the impact of President Donald Trump's sweeping tariffs. to.pbs.org/3MRT4pM
pbs.org
Consumer confidence drops in December to lowest level since U.S. tariffs rolled out in April
Write-in responses to the survey showed that prices and inflation remained consumers' biggest concern, along with tariffs.
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Joey Politano🏳️‍🌈 @josephpolitano.bsky.social · 27/12/2025
Tariffs as a % of GDP are at the highest level in more than 100 years amidst Trump's trade war—even though tariff rates are still lower than in the 1930s, they have a much higher impact because trade volumes are much larger than in the past
A graph of tariffs as a % of GDP
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The Wall Street Journal @wsj.com · 25/12/2025
Big corporations are booming on AI and record profits—but small businesses face tariffs, rising costs, and job cuts, widening America’s economic divide.
on.wsj.com
The Economic Divide Between Big and Small Companies Is Growing
The economic fortunes of low- and high-income Americans are diverging. The same pattern is happening with companies.
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The New Yorker @newyorker.com · 22/12/2025
Donald Trump’s ever-changing tariff policies created an enormous amount of uncertainty in the economy and raised the cost of imported goods. Will costs start to settle in 2026? Read John Cassidy’s column on the financial outlook for the year ahead: newyorkermag.visitlink.me/OcNA4y
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The Wall Street Journal @wsj.com · 22/12/2025
After tariffs rose to the highest levels in centuries, the U.S. lost tens of thousands of manufacturing jobs this year. WSJ's Gavin Bade takes us to Detroit to learn why—and to meet the winners of the new trade paradigm.
on.wsj.com
Trump Tore Up Free Trade. Detroit Is Feeling the Shock.
After tariffs rose to the highest levels in centuries, the U.S. lost tens of thousands of manufacturing jobs this year. As part of our video series on Trump's second term, The Wall Street Journal’s Gavin Bade takes us to the Motor City to learn why—and meet the winners of the new trade paradigm.
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Winnipeg Free Press @winnipegfreepress.com · 22/12/2025
Bourbon maker Jim Beam is halting production at one of its distilleries in Kentucky for at least a year as the whiskey industry navigates tariffs from the Trump administration and slumping demand for a product that needs years of aging before it is ready.
winnipegfreepress.com
Cloudy future for bourbon has Jim Beam closing Kentucky distillery for a year
Bourbon maker Jim Beam is halting production at one of its distilleries in Kentucky for at least a year as the whiskey industry navigates tariffs from the Trump administration and slumping demand for a product that needs years of aging before it is ready.
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FactPost @factpostnews.bsky.social · 17/12/2025
North Carolina woman on why she is forced to close her small business: "It's really hard because this business has been my baby. The cost of our products have gone up due to tariffs, and then our margins have shrunk."
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Bloomberg News @bloomberg.com · 17/12/2025
Trump says that affordability is a Democratic "hoax," but his tariffs derailed an economy that was headed in the right direction (via Bloomberg Opinion)
bloom.bg
The Affordability Crisis Is Real and Tariffs Caused It
President Donald Trump traveled to Pennsylvania last week to double down on his economic messages: The affordability concerns of Americans are a Democratic “hoax” and if anyone is unhappy, it's a Blame Biden Economy.
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Bob Burgess @bobburgess.bsky.social · 17/12/2025
Because of #tariffs, gamers aren't very merry this holiday season: "US spending on video game consoles fell 27% last month, marking the worst November in two decades as tariffs and rising component costs pushed prices to record highs." www.bloomberg.com/news/article...
bloomberg.com
US Game Console Sales Crater in Worst November in Two Decades
US spending on video game consoles fell 27% last month, marking the worst November in two decades as tariffs and rising component costs pushed prices to record highs.
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The Bulwark @thebulwark.com · 17/12/2025
The economy is stagnant, and we're even losing manufacturing jobs. Trump’s tariffs are a bust. Why do Democrats seem oddly reluctant to twist the knife? Today's Morning Shots from @billkristolbulwark.bsky.social and @eggerdc.bsky.social: lnk.thebulwark.com/4s3gNTW
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Ryan J. Reilly “paints a vivid and urgent portrait of… disarray” @ryanjreilly.com · 17/12/2025
"The company’s largest unsecured creditor is U.S. Customs and Border Protection, owed $8.36 million in tariffs." bikerumor.com/rad-power-bi...
bikerumor.com
Rad Power Bikes Files for Bankruptcy Protection, Owes $8+ Million in Tariffs
It's not much of a surprise, but Rad Power Bikes has officially filed for chapter 11 bankruptcy protection
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Joey Politano🏳️‍🌈 @josephpolitano.bsky.social · 11/12/2025
Trump's trade war is the largest expansion of US tariffs in modern history, but despite that 60% of American imports still came in tariff-free last month The largest exemption? A $33B carveout for computers, a massive chunk of which are the large GPUs bought for AI data centers
A graph of the largest tariff exemptions, September 2025, where computers & parts are listed at $34B
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Carl Quintanilla @carlquintanilla.bsky.social · 10/12/2025
PIIE: “.. If tariffs stay at current levels, they will impose an annual tax increase of $1,700 for an average household .. the largest tax increase on US households since 1982 as a share of GDP ..” www.piie.com/commentary/t...
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Justin Wolfers @justinwolfers.bsky.social · 08/12/2025
Farmers get a bail out in the face of the costs they've born from Trump's trade war. Quite an admission that his policies have hurt Americans. Now riddle me this: Why not bail out consumers who are paying more for imported goods? www.nytimes.com/2025/12/08/u...
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Justin Wolfers @justinwolfers.bsky.social · 18/11/2025
A reminder: Tariffs are a regressive tax. The anti-Robin Hood. Trump's current tariff settings effectively impose a tax rate on low-income households that's roughly TRIPLE that on high-income folks. That's not the way taxes are supposed to work. [source: budgetlab.yale.edu/research/sta...
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Carl Quintanilla @carlquintanilla.bsky.social · 12/11/2025
“.. it just doesn’t make financial sense for us to offer discounts because our costs of goods are so high because of the tariffs ..” @bloomberg.com www.bloomberg.com/news/article...
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Chicago Tribune @chicagotribune.com · 12/11/2025
Retailers are preparing for a holiday season clouded by tariffs, inflation and economic uncertainty. Consumers will see higher prices, fewer deep discounts and tighter inventory in some categories.
trib.al
Will the price be right? What shoppers can expect for the holiday season
Retailers are preparing for a holiday season clouded by tariffs, inflation and economic uncertainty. Consumers will see higher prices, fewer deep discounts and tighter inventory in some categories.
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Lydia DePillis @lydiadepillis.bsky.social · 11/11/2025
Today from me: Come for the cat picture, stay for the exploration of how specialty grocery stores serving immigrant diasporas are seeing the most concentrated impact from super-high tariffs on places like Myanmar and Bangladesh. www.nytimes.com/2025/11/11/b...
nytimes.com
Where the Taste of Home Comes With a Tariff Charge
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