Today's WSJ Editorial Trump Plots to Erase His Tax Cut Your paycheck may be bigger, but tariffs will

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https://www.wsj.com/articles/trump-plots-to-erase-his-tax-cut-1530140662 (paywall)

President Trump is justifiably proud of passing tax reform last December, telling audiences “because of our tax cuts, you can keep more of your hard-earned money.” He’s right: American taxpayers will save $75 billion this year and $189 billion next year, according to the Joint Committee on Taxation.

Yet the president’s tariffs on imports could negate much of the tax relief he’s been bragging about. These levies are not paid by foreign countries or companies. They are passed on to American consumers in the form of higher prices for either foreign or U.S.-made goods.

The Trump tariffs are now clawing back tax savings at a rate of roughly $10.6 billion per year. The levies already in place include 25% on steel (imports in 2017 were an estimated $23.4 billion), 30% on solar panels ($8.5 billion), 10% on aluminum ($18 billion) and 20% on washing machines ($1.8 billion).

That’s chump change compared with what may be coming. On July 6, a 25% tariff kicks in on 818 Chinese imports worth $34 billion, costing Americans another $8.5 billion a year. If China retaliates, Mr. Trump has said he’ll slap a 10% tariff on an additional $200 billion of Chinese exports. The president warned last week that if Beijing responds a second time, he could levy a tariff on $200 billion more in Chinese exports. And an administration proposal for a 25% tariff on 284 Chinese exports to the U.S., whose value was $16 billion in 2017, is pending.

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1. Already did

With his raising oil prices to skyrocket , and ripping away health care or driving the prices sky high for it. Now tariffs. Looks to me like he's intentionally trying to destroy the economy , for putin's revenge.