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LINK Fact check: Trump says China is paying for his tariffs. He's wrong.

Seems clear to me that raising tariffs on Chinese goods results in higher prices to consumers, which results in greater taxes going to the government, which are used then to pay off farmers for their lost sales to China.
So every time Trump raises tariffs we might just as well send a check to Big Farma!

"Tariffs are designed to make foreign-made goods more expensive, boosting domestic producers or, sometimes, forcing international exporters to slash prices to stay competitive. But there's no evidence China is cutting prices to accommodate Trump’s tariffs.

Instead, Americans are footing the bill, Redding and his colleagues concluded after analyzing 2018 customs data. Americans are paying an additional $832 each year per household, the researchers found.

A second study with a different methodological approach that was published in the National Bureau of Economic Research in March found that 100 percent of the cost of the 2018 tariffs were passed on to U.S. consumers.

This wasn't exactly what researchers expected, Redding added.

“In traditional economics, the tariff would be shared by consumers in the U.S. and Chinese exporters,” he said. “But when we went into the data, so far the entire tariffs have been passed through” to Americans."

jerry99 8 Aug 3
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4 comments

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0

Gee, imagine that.

0

There was actually a talking head on fox that point blank stated the American consumer would be paying for these tariffs. That was surprising.

OF course thinking people know who will pay for this buffoons stupid bullying.

1

Only his base is stupider than he is.

1

If Trump says anything it's probably not true. He's a pathological liar, doesn't care if you know it, and isn't going to stop.

1of5 Level 8 Aug 3, 2019

Fake news probably mens the truth

@Sofabeast or at least close to it.

I don't know about that. I totally believe him when he says he'd love to have sex with his daughter.

He's one class act.

@Athena excellent point, always an exception to the rule.

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