“Donald Trump dreams of replacing income tax with customs duties”

We all have favorite expressions. “For me the most beautiful word in the dictionary is “tariff” (customs duty)” Donald Trump admitted in mid-October to 600 businessmen and women at the Economic Club of Chicago. The man who would be elected President of the United States on November 5 justified his preference thus: “Tariffs are paid by foreign countries rather than American consumers.”

Throughout his meetings, the Republican candidate repeatedly repeated his intention to increase “tariffs” by 10% on all imported products and from all countries (with the exception of Canada and Mexico which form a free trade zone with the United States). In some of his declarations, the rate envisaged was even 20%, just like the “favorable treatment” promised to China, which varies from 60% to 100%, it depends. These projects are presented as measures to protect “made in America”, while the United States records an annual trade deficit…