Scott Lincicome and Sophia Bagley, The Atlantic: At a campaign event on Tuesday night, Donald Trump vowed to lower the price of groceries by ... taxing them? Responding to a question about food costs, Trump told the Michigan audience that his plan would entail both energy deregulation and protectionist restrictions on food imports, which, he claims, would help American farmers.
Evidence from the Trump presidency shows, for example, that American companies and consumers absorbed nearly all the tariffs' costs, either through additional import taxes or higher prices for both foreign and domestic goods. Given that U.S. grocers already operate on thin margins (historically about 2 percent), the chances of these companies simply absorbing new tariff-related costs, instead of passing them on to you and me, are minimal.
Drudge Retort Headlines
Republicans Bracing for Damaging Story on North Carolina Governor Candidate (62 comments)
Trump Reports Reaction of Nonexistent 'Audience' (27 comments)
Survey: Gen Z Workers Easily Offended, Unprepared (24 comments)
Dow Jones, S&P 500 Hit All-Time Highs Today (19 comments)
Florida Sheriff 'perp Walks' 11-year-old After Threatening Shooting (18 comments)
Trump Preemptively Blames Jews If He Loses (16 comments)
J.D. Vance's Weak Excuse for 'Pet Eating' Lie Just Blew Up In His Face (14 comments)
Know Why Border Migration Has Slowed? the LA Declaration (14 comments)