Trump admits tariffs could create shortages, hike prices

President Donald Trump said Wednesday that tariffs will hurt Americans ' standard of living.

Frida Ghitis : Trump 's comments are the most direct admission yet that tariffs are going to hurt Americans .

She says tariffs are nothing more than taxes and it's impossible to tax your way to prosperity.

Ghitis says Trump 's tariffs are deeply unpopular and dragging his approval rating down.