Column: Trump’s tariff plan would amount to a huge tax hike
WASHINGTON — If Donald Trump becomes president again, one of his first moves will take money out of your pocket just as a tax hike would.Trump hasn’t outlined much of an economic program, but he has promised to impose a massive increase in tariffs on imports from almost all foreign countries — everything from bananas and baby formula to computer chips and machine parts.And that’s the equivalent of a tax hike, because the costs of tariffs are paid almost entirely by the buyers of imported goods, whether they are…