“It’s sort of nonsensical to say that I am worried about high food prices, so I want to put a tax on food imports,” said Clausing, who is also a UCLA economist specializing in tax policy. “As you tax them, the food in the grocery store absolutely gets more expensive.”
A huge proportion of food consumed in the United States — about 60% of fresh fruit and 38% of vegetables — are imported, according to Department of Agriculture data. Less than 1% of the bananas Americans eat are grown domestically. The vast majority are imported. The United States grows less than 1% of the coffee it consumes. It imports more than 70% of its seafood.
“Trump is using tariffs as a political device to signal his strong skepticism around globalization broadly — ‘America First,’ ” said Zandi of Moody’s Analytics.
“That this policy stance is inflationary is very difficult for most voters to grasp, especially when they are being told the opposite.’'
Donald Trump has vowed that if voters return him to the White House, “inflation will vanish completely.”
apnews.com