‘The tariffs are a big tax increase’: Top bank crunches the numbers on how much Americans are paying for Trump’s trade regime
“Bust or boom?” That’s the big question at the heart of UBS’ big forecast for the U.S. economy for 2026 through 2028. But the team led by economist Jonathan Pingle also tackles a question that economists have been raising throughout 2025: the fact that tariffs amount to a large tax increase in all but name. … Read more