Some Conservatives Worry Trump’s Tariffs Could Surrender Tax Gains

Unemployment is low, and the economy is humming, but concern is growing among some conservatives that President Donald Trump risks giving away gains from his historic tax cuts in a trade war with China. The conservative-leaning Tax Foundation earlier this week projected that the $150 billion in tariffs that Trump has proposed would cut gross domestic product (GDP) and wage growth by a tenth of a percentage point over the long run and reduce full-time jobs by 79,000. Middle and lower-income taxpayers would absorb a disproportionate share of the hit, according to the analysis.

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