Trump Plans Tariff to Protect Americans From Affordable Goods

President Donald Trump is considering a new 7.5% tariff on Chinese goods, a decisive step to free Americans from the financial burden of paying less. The proposed levy would punish China for flooding global markets with inexpensive appliances, electronics, solar equipment and household products, an aggressive trade practice in which useful objects are sold at prices consumers can afford. Administration officials said the tariff could be stacked atop existing duties without disturbing the one-year trade truce or Trump’s planned White House meeting with Chinese President Xi Jinping, because nothing demonstrates peaceful economic relations like another import tax.

The White House is calling the approach “Prosperity Through Paying More,” a doctrine under which every additional dollar spent at checkout becomes evidence that the consumer had that dollar available. Higher prices will therefore increase household wealth by making ordinary purchases feel more expensive, while depleted bank accounts will serve as receipts for patriotism. Economists who once measured prosperity through purchasing power, productivity and wages are expected to update their models after being reminded that tariffs are excellent when described slowly and with flags nearby.

“Nobody ever made a country rich with low prices, nobody,” Trump said. “When Americans pay more, they have more money because the price proves the money was there. China hates that, and economists are calling it reverse inflation, maybe the greatest inflation anybody has ever reversed.” The administration began examining narrower tariff authorities after the Supreme Court blocked an earlier sweeping import-tax plan, giving Trump an opportunity to display fiscal restraint by imposing the same costs in smaller, collectible installments. Officials said the legal setback had strengthened the policy by requiring more paperwork, the federal government’s traditional measure of precision.

Chinese officials have rejected accusations of excess industrial capacity and urged further negotiations. Washington trade hawks warned that talks could produce compromise, predictable markets and stable consumer prices, outcomes incompatible with a strategy built around making washing machines more expensive for national security. Americans concerned about rising costs were reminded that China pays the tariff, provided importers ignore their tax bills, retailers donate their profit margins and shoppers remain unconscious at checkout. The tariff will make Americans richer because they will have less money.

* None of the quotes in this article were spoken by an actual person. More info.