When Donald Trump takes office, expect one of his first acts to be imposing tariffs. Despite his critics’ charges, tariffs are hardly unprecedented or responsible for many of the consequences for which they are blamed.
On Jan. 15, Trump wrote on Truth Social, “I am today announcing that I will create the EXTERNAL REVENUE SERVICE to collect our Tariffs, Duties, and all Revenue that come from Foreign sources.”
It is time to set the record straight on Trump and tariffs.
Except for the Civil War income tax’s life, tariffs were America’s primary revenue source until well into the 20th century. They didn’t just disappear once overtaken by taxes — they have been a constant revenue source since.
Tariffs already exist on many goods coming into the U.S., including anything that doesn’t come from the 20 countries we have trade treaties with. America has a trade-weighted average import tariff rate of 2.0 percent on industrial goods. With half of all America’s imported industrial goods entering duty-free, many goods face tariff rates above 2 percent. […]
— Read More: thefederalist.com
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.
