President-elect Donald Trump is pledging 25% tariffs on all imports from Mexico and Canada and an extra 10% fee on all imports from China. UH economist Ed Hirs says that’s a recipe for inflation and recession.
This outlet of PBS actually did the opposite and minimized the effects of tariffs in a hit piece they did on Harris after the debate.
Researchers at the Peterson Institute for International Economics estimate such import taxes would cost the average family $1,700 a year.
I mean, maybe? But just the word average is a red flag whenever it shows up in economic statistics. It’s also ignoring the larger risk of recession/depression as well as lost wages. During the steel tariffs the average family didn’t see a big increase in cost of goods, but it did affect job growth in those sectors, caused layoffs, etc.
This outlet of PBS actually did the opposite and minimized the effects of tariffs in a hit piece they did on Harris after the debate.
I mean, maybe? But just the word average is a red flag whenever it shows up in economic statistics. It’s also ignoring the larger risk of recession/depression as well as lost wages. During the steel tariffs the average family didn’t see a big increase in cost of goods, but it did affect job growth in those sectors, caused layoffs, etc.
https://www.houstonpublicmedia.org/npr/2024/08/25/g-s1-19480/12-misleading-or-lacking-in-context-claims-from-harris-dnc-speech/