Donald Trump Tax Plans Would Increase Taxes On 95% Of Americans, Analysis Finds

This is indeed creative math as anyone can build there own model with there own numbers by using imagined associated numbers as Trarriff's Trump may create.

Inspite of tariff's in the Trump administration the citizen's had an increase in their net disposable income. No one believes that is not beneficial to the tax payer.

**What took place is as follows:**
The Biden/Harris administration has retained many of the tariffs imposed during Donald Trump's administration while also introducing new tariffs on a range of Chinese goods.

## Retained Tariffs from Trump's Administration

1. **General Continuation**: Biden has kept most of the tariffs that Trump enacted, which affected approximately $300 billion worth of Chinese imports. This includes significant tariffs on steel, aluminum, and various consumer goods[2][4].
2. **Specific Products**: The tariffs on certain categories, such as electric vehicles (EVs) and solar panels, were maintained and further increased. For instance, the tariff on Chinese EVs was raised from 25% to 100%[1][3].

## New Tariffs Introduced by Biden

1. **Expanded Tariff Rates**: In May 2024, Biden announced additional tariffs targeting about $18 billion worth of goods from China. These include:
- **Electric Vehicles**: Increased to 100%
- **Solar Panels**: Increased to 50%
- **Batteries and Critical Minerals**: Increased to 25%[1][2][5].

2. **Strategic Focus**: The new tariffs are part of a broader strategy to protect American manufacturing, particularly in sectors like clean energy and semiconductors. This aligns with legislative efforts such as the CHIPS Act and the Inflation Reduction Act, which aim to bolster domestic production capabilities[3][6].

3. **Implementation Timeline**: The new duties are set to take effect between 2024 and 2026, indicating a phased approach to implementation[1][4].

## Economic Rationale

Biden's administration argues that these tariff increases are necessary to counteract China's unfair trade practices, including technology transfer issues and intellectual property theft. The intention is to safeguard American jobs and industries by making it more challenging for Chinese goods to compete in the U.S. market[5][6].

In summary, while Biden has left many of Trump's tariffs in place, he has also introduced significant new tariffs aimed at enhancing domestic manufacturing and addressing trade imbalances with China.

Citations:
[1] https://www.bhfs.com/insights/alerts-articles/2024/biden-ups-the-ante-on-china-tariffs
[2] https://www.cnn.com/2024/09/13/politics/china-tariffs-biden-trump/index.html
[3] https://www.npr.org/2024/05/10/ [login to see] /biden-china-tariffs-electric-vehicles
[4] https://taxfoundation.org/research/all/federal/trump-tariffs-biden-tariffs/
[5] https://www.whitehouse.gov/briefing-room/statements-releases/2024/05/14/fact-sheet-president-biden-takes-action-to-protect-american-workers-and-businesses-from-chinas-unfair-trade-practices/
[6] https://www.cfr.org/article/weighing-bidens-china-tariffs
[7] https://apnews.com/article/biden-china-tariffs-temu-sheinde-minimis-8dc53cf600ce03e54dcdb0877fded11e
[8] https://www.nytimes.com/2024/09/13/us/politics/biden-tariffs-chinese-goods-clothing.html

It would also add to the deficit at more than double the rate of Harris' plan which adds at least $3.5 billion

SGT Dwayne Newton https://www.youtube.com/watch?v=0J3fH-GbnSY