Ledger · First term · № 121
China, not Americans, will pay for the tariffs
Broken“[paraphrase] China is paying us billions of dollars in tariffs.”
- Promised
- , Twitter and rallies through 2018-2020
- Re-promised
- 50 times with a fresh deadline
- Topic
- Trade & tariffs
- Era
- First term
What happened
Studies by the Federal Reserve Bank of New York, Princeton and Columbia economists found the cost of the tariffs was borne almost entirely by U.S. importers and consumers. The American Prospect cited an estimated consumer cost of roughly $34 billion a year and an estimated 300,000 jobs lost to the trade war.