Trump's tariff threat would create $85B in taxes: Report

Channel: Fox Business
Published: 06/05/2019

Description
FBN's Kennedy on President Trump's tariff threat against Mexico unless the country does more in an effort to improve border security. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headqu...



Transcript
Very much trish president trump playing hardball with mexico. threatening tariffs unless they stop the 3, stop the throw of drug -- flow of drugs and migrants, but economists warning that the tariffs could hurt us more than them and make border crisis worse. Listen up! You know that president last week, anoint president last week, annint president last week, annout president last week announced he ...
would enact a 5 % tax on all things: mexico, starting june 10. , unless they crackdown on the border. Today in london president said he is not bluffing. , you know mexico called they want to meet more likely that tariffs go on and we'll talk during the time that tariffs are on they willbe paying. kennedy all right. According to nonpartisan tax foundation, the tariffs could damage u. s. economy.

That is not hard to see. If we get to 25 % tariff level, that would be biggest tax increase on americans since 1968 johnson was horrible, that 85 billion dollar hit to the economy. That is 666 dollars per household. That is the devil. If you combine that with tariffs and that stuff from china, american consumer gets clobbered. today, republican senators starred sounding a collective alarm. , a 5 % tariff will. , but if we did to 25 %, that is a whole different story. that could hurt our economy.

Badly. we're concerned about the additional tariffs that have been proposed. : . I willwield to nobody in passion and seriousness and commitment for securing the border. , but there is snow reason: --, no reason for farmers and manufacturers and businesses to pay the price of massive new taxes. , not up support. In my conference for tariffs. kennedy, yellow rose of kentuck kentucky. , , he makes these threats and backs off when he sees the danger. I have a feeling this one just popped into his head. A lot of people in this administration did not agree. I believe that he will back off when faced with the opposition among business among his own republicans.

, when he sees what a dumb move he has made. -- , his -- president responded you canimagine, crying chuck schumer saying out loud for all to hear that i am bluffing with receive to putting tariffs on mexico. What a crime! Mexico! What a creme mexico! What a creep he would rather have your country fail. He gave mexico bad advice, no bluff, bluffer, not. We still have the mig, the -ig, the -- g, the -- migrant issue. It could crush latin american economies and force more people.


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