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How man y times were we told that tariffs is a tax. One dollar tariff means consumers will pay one dollar more. Trump the businessman knew more than arm chair economists, it seems. I sadly have to add my dear Mark Levine the list.
U.S. companies and consumers will only pay 4.5 percent more after the nation imposed 25 percent tariffs on $250 billion of Chinese goods, and the other 20.5 percent toll will fall on Chinese producers, according to authors Benedikt Zoller-Rydzek and Gabriel Felbermayr.
...further down
According to Zoller-Rydzek and Felbermayr, the tariffs will do what Trump has longed for: They will cut American imports of affected Chinese goods by more than a third, and lower the bilateral trade deficit by 17 percent.
Wait and see...depends on how long it goes on and what happens. From that article:
"As the trade conflict escalates, however, the U.S. administration may not be able to restrict its selection to products with high import elasticities,” they wrote. “And U.S. welfare might decrease as more of the tariff incidence falls on U.S. consumers.”
How man y times were we told that tariffs is a tax. One dollar tariff means consumers will pay one dollar more. Trump the businessman knew more than arm chair economists, it seems. I sadly have to add my dear Mark Levine the list.
U.S. companies and consumers will only pay 4.5 percent more after the nation imposed 25 percent tariffs on $250 billion of Chinese goods, and the other 20.5 percent toll will fall on Chinese producers, according to authors Benedikt Zoller-Rydzek and Gabriel Felbermayr.
...further down
According to Zoller-Rydzek and Felbermayr, the tariffs will do what Trump has longed for: They will cut American imports of affected Chinese goods by more than a third, and lower the bilateral trade deficit by 17 percent.
IOW: Americans pay more or do without, this is a benefit HOW?
IOW: Americans pay more or do without, this is a benefit HOW?
Because it will lead to a better negotiating position in our trade talks with China and/or lead to more products being produced here rather than overseas.
Because it will lead to a better negotiating position in our trade talks with China and/or lead to more products being produced here rather than overseas.
“And U.S. welfare might decrease as more of the tariff incidence falls on U.S. consumers.”
IOW: Americans pay more or do without, this is a benefit HOW?
Do without what? USB plug-in fans? I think I can hold out on that just a little bit longer.
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