President Trump tweeted Sunday morning that his burgeoning trade wars with China and other countries will have a very specific benefit to the U.S.: bringing down the national debt. “Tariffs are working big time,” Trump tweeted, adding, “Because of Tariffs we will be able to start paying down large amounts of the $21 Trillion in debt that has been accumulated, much by the Obama Administration, while at the same time reducing taxes for our people. First, the president portrays tariffs as taxes on foreign companies, but the truth is that many U.S. companies, and ultimately consumers, bear the cost.
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