NEW YORK — A year into President Donald Trump’s introduction of high import tariffs, U.S. customs revenue has seen a significant spike. However, it’s important to note that these increased costs are ultimately passed on to businesses and consumers alike.
Tomas Philipson, a former adviser to Trump from Sweden, offers an intriguing perspective on the situation. “In textbooks, every tax is considered detrimental,” he explains. “But in this case, it’s being used strategically as a means of gaining leverage.”
As the economic landscape shifts under the weight of these tariffs, the implications for both the market and everyday Americans continue to unfold.
