GREENSBORO, N.C. — Those tax cuts from last year may have given you a nice little piece of the pie. Unfortunately, tariffs from China have almost wiped out that pie.
Let's take a closer look at the numbers. The Tax Policy Center says last year's Tax cuts and Jobs act saved the average family about $930 a year.
But the New York Federal Reserve says tariffs on Chinese imports cost that family $831. That's just about a $100 difference.
Over the past couple of weeks, we've heard a lot about potential tariffs on Mexican imports. You might've heard that will no longer happen - at least for now. The two countries agreed to a deal Friday that will prevent those tariffs.
As part of that agreement, Mexico agreed to accelerate its national guard presence at the border and expand a program requiring asylum seekers to stay in Mexico while they're being processed.