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Tariffs 101: Taxes for the Poor, Perks for the Rich

Despite the political hype, Trump’s tariffs aren’t some bold new way to raise revenues from foreign nations. They’re federal taxes on imports from over 90 countries—and the costs land on you at the checkout.

Like any sales tax, they’re regressive. Working- and middle-class families spend nearly all their income on basics—food, clothing, supplies—that tariffs make more expensive. In many cases, a LOT more expensive.

The wealthy hardly …