Poor Americans Likely To Be Hit Hardest By New US Tariffs

PHOENIX (AP) — The biggest victims of President Donald Trump’s tariffs won’t necessarily be Mexicans or Chinese. Some experts say the people most likely to pay the steepest price are poor Americans. They already live close to the financial edge and could have to pay more for everyday purchase. Jay Shambaugh of the Brookings Institution says tariffs are a tax on consumption for many low-income households. The president has threatened to impose a 5% tax on Mexican imports.