Att: conix. Trump’s Trade Quagmire (Wonkish) [...] So roughly speaking, we’ve seen a 20 percent tax imposed on the $500 billion worth of goods we import from China each year. Although Trump keeps insisting that the Chinese are paying that tax, they aren’t. When you compare what has happened to prices of imports subject to new tariffs with those of other imports, it’s overwhelmingly clear that the burden is falling on U.S. businesses and consumers .. https://www.princeton.edu/~reddings/papers/CEPR-DP13564.pdf . P - So that’s a $100 billion a year tax hike. However, we aren’t collecting nearly that much in extra tariff revenue: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=152005609
Bottom line: Trump's trade war is taking billions of spending money from consumers pockets worldwide.
That alone is not good for any consumer spending-based economy. Consumers create jobs.
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