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Treasured Social Butterfly
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Re: Trump's trade war costing each American household $831 a year

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china knees.jpg

 

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Valued Social Butterfly
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Re: Trump's trade war costing each American household $831 a year

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Just read the Beer Industry lost 40,000 jobs due to the Tariffs. This Bud's for you Mr. President.

https://www.msn.com/en-us/money/markets/us-beer-industry-blames-trump-tariffs-for-40000-job-losses/a...

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Treasured Social Butterfly
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Trump's trade war costing each American household $831 a year

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Trump keeps mistakenly claiming that the Chinese are bearing the cost of his tariffs. Not so. We now have a number on what his consumer tax is costing the average American household.  Stand by for more tariffs and higher costs for all Americans as his war with China continues. 

 

 

It’s probably true that the trade war is causing China more economic pain than the United States. But it is still hurting the U.S. economy. The Trump tariffs on Chinese imports amount to a tax of around $60 billion a year—paid by American consumers and producers, not China, as Trump keeps mistakenly insisting. The Trump tariffs are now at levels that cost the typical US household $831 a year in extra taxes and lost economic output, according to the New York Federal Reserve. Those are taxes for which Americans get nothing—no improved roads, no extra teachers or fighter jets, not even a bridge to nowhere.

 

https://finance.yahoo.com/news/trumps-trade-war-is-suffering-mission-creep-125048131.html

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