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98%  
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  • What Trump’s Tariffs Did Last Time (2018-2019): No Impact on Inflation, Doubled Receipts from Customs Duties, and Hit Stocks

    02/04/2025 7:50:51 AM PST · by Diana in Wisconsin · 14 replies
    Wolf Street Blog ^ | February 4, 2025 | Wolf Richter
    President Trump has now started implementing his promise to impose new or additional tariffs on goods from various countries, starting with China, Canada, and Mexico. Trump already imposed tariffs in 2018 against various countries. Now, once again, the media are all over how prices are going to jump for consumers because tariffs are a “regressive consumption tax,” and how tax receipts from tariffs won’t go up, etc. etc. Now we’ll look at what tariffs did and didn’t do last time. One, they didn’t trigger inflation, which stayed below the Fed’s target. Two, they more than doubled tax receipts from customs...