EU trade commissioner says US will be taxing its own citizens by imposing tariffs

• Tariffs are taxes
• They are bad for business and worse for consumers
• US will be taxing its own citizens by imposing tariffs
• It will raise costs for its own businesses and fuel inflation

He’s not wrong there as households will be the ones feeling the pinch in all of this. Higher tariffs means higher prices for imported goods and it just means consumers having to pay for that or the already higher prices for domestic goods.

This article was written by Justin Low at www.forexlive.com.