Americans Pay $ 4.1 Billion in Donald Trump’s Tariffs in September. A striking new report shows that the tariffs imposed on China and other countries as part of Donald Trump’s trade war cost the Americans.
Since March 2018, Donald Trump has applied tariffs for more than $ 350 billion of goods imported from China and is subject to $ 200 billion on December 15. Now is paid to China by the United States.
In fact, as a striking new report shows, tariffs are actually paid by the US, not by US companies and consumers, but by China – and cost billions to Americans.
According to data released by the US Department of Commerce and Agriculture and analyzed by the free trade group Tariff Hurt The Heartland, Americans only broke a record $ 7.1 billion in tariff payments in September 2019.
This figure increased by 59 percent compared to September 2018, but in August of this year was $ 600 million more than the Americans paid.
Trump tariffs hit Americans in September 2018 as well. However, according to the report, $ 1.4 billion paid this month is only one-third of the amount paid by businesses and consumers in the United States this September.
Since February 2018, with Trump announcing the start of the trade war, Americans have paid over $ 38 billion in tariffs.
JP Morgan predicts that tariffs will cost US households up to US $ 1,000 a year, while Moody’s Analytics estimates that the trade war reduces US employment by 300,000, Heart the Heartland Hurt report said.
China responded to US exports by applying the strict tariffs imposed on food exports, particularly by American farmers, who were particularly tough due to Trump’s trade war. According to the report, due to China’s heavy regional customs duties, US exports subject to these tariffs have fallen by 30 percent since Trump began the trade war. These goods were primarily farm exports.
Tariff Loss The Heartland group used publicly available data to compile $ 7.1 billion in September tariffs paid by Americans. The Trump administration reported a $ 6.8 billion lower figure in tariffs collected by US Customs officers and reported to the treasury according to a report published by Business Insider.
The Heartland Hurt stated in its Heartland report that it is based on data from the Census Bureau and the US Department of Agriculture.
Trump and Chinese President Xi Jinping are expected to sign a Aşama First Stage ”trade agreement in December that will lift some heavy tariffs in exchange for promises to sharply increase China’s US farm export purchases. However, Brian Kuehl, the top official of the agricultural advocacy group Farmers for Free Trade, said it would be hard to “dig ten from the“ hole açılan that Trump had already opened in the trade war.
“Two years of economic pain will not be the result of one-time purchases or partial agreements, “Taruels Hurt the Heartland. “American farmers expect to see a göster show me” type and an agreement that put an end to the economic pain it still feels. ”