REPORT: Trump's Tariffs Would "Inflict Massive Collateral Damage" on U.S. Economy
Republicans still poll ahead of Democrats on the economy, so these points are very important to spread.
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Trump’s Terrible Tariffs
Background from CNN:
Former President Donald Trump’s trade agenda amounts to a tripling-down of the trade war he waged during his first term in office.
Not only has Trump called for a 60% tariff on all Chinese goods, the presumptive GOP presidential nominee has said he would impose a tariff of at least a 10% on all $3 trillion worth of US imports.
While Trump has championed aggressive tariffs as a way to protect working-class Americans, new research suggests they would do the opposite.
Trump’s unprecedented trade proposals would inflict “significant collateral damage on the US economy,” costing consumers at least $500 billion a year, or 1.8% of gross domestic product (GDP), according to a paper published Monday by the Peterson Institute for International Economics.
While these tariffs amount to a massive tax increase on everyday Americans, Trump wants to make his tax cuts for billionaires and corporations permanent.
Once again, Trump is on the side of his billionaire buddies and donors, not Main Street America.
Let’s Amplify This News
Whenever reports or data emerge that could impact how people feel about Trump’s ability to handle the US economy, we have to jump on it.
Here are some shareable graphics made from recent headlines and the Peterson Institute’s report. If you have yet to join the 2024 Digital Field Team on Reach, here’s how.
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Get Ready to Talk About Greedflation Friday Morning!
Multiple organizations, including DemCast, are going to start a digital rally about corporate greedflation, beginning at 10:30am ET. We will publish a Drumbeat post at that time to give you all the tools to join in. Keep an eye out!