Trump’s proposal of 10% tariff would be $300 billion tax on Americans, think tank says

The Big Number: Former President Donald Trump’s proposal to put a 10% tariff on all imports to the U.S. would be a tax hike of more than $300 billion a year on American consumers, said the Tax Foundation, a nonpartisan think tank, in an estimate out Friday.

The Washington, D.C., think tank, which generally has supported lower taxes, also warned that “Trump’s proposal of a 10 percent trade tax matched with in-kind retaliation would shrink the U.S. economy by 1.1 percent and threaten more than 825,000 U.S. jobs.”

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