Research on tariffs from last year showed that all the additional costs associated with tarrifs were passed on to consumers. The U.S. Chamber of Commerce warned new tariffs are “exactly the wrong move” in a statement, and noted that the five percent tariff on Mexican imports would amount to a tax increase of $17 billion on U.S. consumers if it goes into effect next month. “Those are real losses in income that we’re facing as a result of these taxes,” said Philip Luck, Assistant Professor of Economics.
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