May 22, 2021

DONALD LOVES CHINA; IT'S AMERICA THE rIGHT HATES:

Trump's China tariffs hit US businesses, consumers hardest: Moody's (Niv Elis, 5/19/21, MSN)

The tariffs implemented during former President Trump's trade war with China hit American businesses and consumers hardest, according to new report from Moody's Investor Services.

On average, just 7.6 percent of the U.S. tariffs ended up being absorbed by China, while the rest of the tab was picked up by Americans.

For Chinese products that saw tariff rates rise to 20 percent, about 95 percent of the cost ended up being paid by U.S. consumers. But when China imposed retaliatory tariffs on U.S. exports, a significant portion of the cost fell on American businesses.

Posted by at May 22, 2021 6:50 AM

  

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