Plus: Are tariffs inflationary, RIP to a giant of the free market movement, and more…
by Eric Boehm
Reason.com
Okay, so we’re doing this. President-elect Donald Trump says in no uncertain terms that he’ll seek to raise taxes on imports immediately after taking the oath of office.
“On January 20, as one of my many first executive orders, I will sign all necessary documents to charge Mexico and Canada a 25% tariff on ALL products coming into the United States,” Trump posted Monday night on Truth Social.
In the statement, Trump said the tariffs would be issued in response to “thousands of people…pouring through” the border from America’s two neighbors, and that the tariffs would remain in effect until Mexico and Canada take steps to stop the flow of drugs and migrants. “Until such time as they do, it’s time for them to pay a very big price,” Trump concluded.