TV News LIES

Thursday, Dec 12th

Last update05:20:13 AM GMT

You are here News Economy Americans, not Chinese, pay Trump tariffs: NY Fed study

Americans, not Chinese, pay Trump tariffs: NY Fed study

E-mail Print PDF

Yusen terminalWhen the Trump administration imposed tariffs on Chinese imports last year, officials insisted China would pay the cost - implying Chinese firms would have to cut their prices to absorb import “taxes” of up to 25% when the goods hit U.S. shores.

Instead, the prices Chinese firms charge have barely budged, meaning U.S. companies and consumers are paying the tariff costs, estimated at around $40 billion annually, New York Fed Reserve Bank researchers found in a study released on Monday.

As a result of the U.S.-China trade war, U.S. Customs and Border Protection adds as much as 25% to the import price as Chinese goods enter the country. If Chinese companies were absorbing that cost, they would have to cut their prices as much as 20% - a level that would allow U.S. retailers, manufacturers, or wholesalers to keep their own prices and profits stable.

TVNL Comment: No matter what the facts show, Trump supporters will believe what he says. They do not care about the truth.

More...

 

 


Most Recent Related Stories...


Trump can no longer impose 'Section 232' auto tariffs after missing deadline: experts

Auto tariffs can longer can be imposed The U.S. administration may have to find other means if Trump wants to tax European or...

Most Americans are living paycheck to paycheck, survey shows

Living paycheck to paycheck When you have a seemingly endless list of bills to pay and financial responsibilities to take...

2019 deficit nears $1 trillion, highest since 2012: Treasury

Deficit nears $1 trillion The federal deficit for fiscal 2019 reached close to $1 trillion for the first time since 2012,...

Bed Bath & Beyond plans to close at least 40 stores this year but open 15 new locations

bed Bath & Beyond to close 40 storesBed Bath & Beyond will be closing and opening stores this year. The New Jersey-based home goods retailer, which...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!