Not surprising, but at least it’s now on the record. A report by researchers at …

Not surprising, but at least it’s now on the record. A report by researchers at the Federal Reserve Bank of New York found that U.S. companies and consumers had shouldered the burden of Trump’s expansive tariffs. The U.S. Constitution gives Congress the power to “lay and collect Taxes, Duties, Imposts and Excises” (Article I, Section 8), and requires that revenue-raising bills originate in the House of Representatives (Article I, Section 7). Tariffs are a form of duty, often experienced like a tax on imports.


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