President Donald Trump loves taking credit for reductions in inflation that began months before he took office, but according to a new report he would have had more to crow about had he not spent much of the last year imposing taxes on imports from nearly every American trading partner.
Since taking office last year, Trump has claimed never-before-used emergency powers to slap tariffs on goods imported from nearly every country of the world as part of what he calls his push for “reciprocal” trade, with the goal of inducing foreign companies to build production capacity in the U.S. and spur homegrown manufacturing after decades of de-industrialization.
