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Giantone · 01-10-2020, 06:59 PM

Not a surprise to me although it is to some.

https://www.yahoo.com/finance/news/t...163409804.html

Confirmed: American businesses and consumers are paying 'approximately 100%' of Trump tariff costs

President Trump made over 100 claims about China and tariffs in 2019, stating that Beijing was paying “tremendous amounts of tariffs.” However, new research from the National Bureau of Economic Research (NBER) found the opposite.

The Trump administration has placed tariffs on $550 billion worth of imports from China, and China has slapped tariffs on $185 billion worth of imports from the U.S. since the trade war between the two countries began in March 2018.

On August 3, 2019, Trump claimed that “our consumer is paying nothing” in regard to the tariffs, but NBER stated that “approximately 100% of these import taxes have been passed on to U.S. importers and consumers.”

American consumers and businesses paid at least $42 billion for the tariffs as of October 2019, according to an analysis from Tariffs Hurt the Heartland (THH). In October 2019, the trade war cost an additional $7.2 billion through tariffs, an $1 billion increase from October 2018.

01-10-2020, 06:59 PM	#11
Giantone Gamebreaker Join Date: Apr 2006 Posts: 14,591	Re: When is Enough ,Enough? Not a surprise to me although it is to some. https://www.yahoo.com/finance/news/t...163409804.html Confirmed: American businesses and consumers are paying 'approximately 100%' of Trump tariff costs President Trump made over 100 claims about China and tariffs in 2019, stating that Beijing was paying “tremendous amounts of tariffs.” However, new research from the National Bureau of Economic Research (NBER) found the opposite. The Trump administration has placed tariffs on $550 billion worth of imports from China, and China has slapped tariffs on $185 billion worth of imports from the U.S. since the trade war between the two countries began in March 2018. On August 3, 2019, Trump claimed that “our consumer is paying nothing” in regard to the tariffs, but NBER stated that “approximately 100% of these import taxes have been passed on to U.S. importers and consumers.” American consumers and businesses paid at least $42 billion for the tariffs as of October 2019, according to an analysis from Tariffs Hurt the Heartland (THH). In October 2019, the trade war cost an additional $7.2 billion through tariffs, an $1 billion increase from October 2018. __________________ ....DISCLAIMER: All of my posts/threads are my expressed typed opinion and the reader is not to assume these comments are absolute fact, law, or truth unless otherwise stated in said post/thread.