The Colorado Springs Gazette editorial: Tariff means Americans pay for the wall
President Donald Trump has minced no words, repeatedly assuring American taxpayers they will never pay for a wall along the southern border. Mexico will pay.
To keep that promise, Trump should immediately renounce the plan he floated Thursday to impose a 20 percent tax on imports from Mexico.
It doesn’t take Econ 101 to know who pays a tariff imposed on foreign imports. The tax passes directly to consumers. Impose a 20 percent tariff on goods from Mexico, to pay for a wall, and Americans are paying for it with a 20 percent increase in the costs of products and commodities they depend on.
Taxing Mexican imports is no small hit. Mexico is our third-largest trading partner, importing nearly $300 billion in goods each year. We buy about $60 billion more from Mexico than Mexicans buy from us. And no, we cannot avoid the tax by shunning avocados.