Trump Fuels Blue Wave By Planning To Hit Americans With Biggest Peacetime Tax Increase In History– www.politicususa.com Source Link Excerpt:
Trump trade adviser Peter Navarro said, according to an X post from Jeff Stein of The Washington Post that Trump is planning on imposing $600 billion worth of tariffs per year for ten years:
White House aide Peter Navarro today: Trump’s tariffs will raise $600 billion per year, or $6 trillion over a 10 year period Seems to reflect our reporting that Trump wants to go absolutely enormous on the tariffs, regardless of short-term economic consequences
Video of Navarro:
To put this into context, Trump’s proposed tariffs would be 2.2% of GDP.
Here is a chart from The Tax Foundation of the largest tax increases as a percentage of GDP in US history:
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