President Trump thinks a new tax on imported cars will boost American auto production and bring back thousands of jobs.
He’s about the only one. As the Trump administration readies a report on imported cars that could be the pretext for new tariffs, economists and industry officials warn of soaring costs for car buyers, a drop in overall sales and a net loss of jobs. Trump said recently that if trading partners don’t agree to his demands, “I’m going to tax their cars coming into America, and that’s the big one.” Big blunder might be more likely.
Rick Newman | Yahoo Finance