Opinion writerPresident Trump’s tariffs and trade wars play a critical role in his reelection schema. So it could not be more fitting that two new studies are now showing that Trump’s trade policies could wipe out the gains that Trump’s tax cut delivered to the non-wealthy — gains that were meager to begin with, relatively speaking, and could now disappear entirely. Upper-middle-class earners would have their gains from tax cuts wiped out. This blew up a central rationale for the tax cuts: the claim that they would unshackle an explosion of investment that would cause wages to soar, ensuring that the tax cuts paid for themselves. But it turns out that the tax cuts aren’t delivering big benefits to ordinary Americans.

Source: Washington Post June 04, 2019 14:35 UTC