In recent comments, Trump talks history of U.S. tariffs. Here's a fact check. [CBS News]
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Source: CBS News
China and Mexico in a news conference this week, claims historians say are at odds with the facts. In particular, Trump exaggerated the impact of tariff hikes during his first term, falsely claiming that "no other president took in 10 cents" of revenue from trade collections on Chinese imports. Trump also pointed to 19th-century tariff increases championed by former President William McKinley as evidence that his plan could benefit the economy. But data shows the federal government had been taking in billions in revenue from tariffs on Chinese imports long before Trump came to office, and historians say the high tariff era of the 1890s was economically rocky for Americans. Tariffs are taxes on imports, often charged as a percentage of the price that importers pay foreign sellers. They aren't paid by foreign nations, but by U.S. companies who often to American consumers by raising prices. In his next term, Trump has to put an additional 10% levy on all Chinese goods, along with
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