Among the reciprocal tariff levels Trump announced:
China: 34%
European Union: 20%
South Korea: 25%
India: 26%
Vietnam: 46%
Taiwan: 32%
Japan: 24%
Thailand: 36%
Switzerland: 31%
Indonesia: 32%
Malaysia: 24%
Cambodia: 49%
United Kingdom: 10%
Rest of the world: 10%
Tarrifs are a Trump Tax on ordinary Americans so they can give tax breaks to billionaires.
Bingo.
It’s true in many roundabout ways, but the math adds up to “break for billionaires.”
Like, it’s full of nepotism and revenge, too. The Taiwan tax sucks. And take the discrete tax on automobiles and auto parts: I’ll give you one guess on who that benefits.
Maybe Americans should consider not paying taxes in the first place.