White House Pans Trump Universal Tariff Plan as Welfare for Rich

Former President Donald Trump’s proposal to impose a “universal baseline tariff” on all goods entering the United States would spike inflation and tamp down on economic growth, the White House said Wednesday.

“Combining a sweeping tariff tax on the middle class with more trickle-down tax welfare for rich special interests would stifle economic growth and fuel inflation,” White House spokesman Andrew Bates said in a statement.

President Joe Biden opposes any effort to impose a tariff on all goods and believes the plan would increase prices for households, Bates added.

Trump last week called for an “automatic” tariff on ...