JM Rieger @RiegerReport Video Editor, The Washington Post • [email protected] Aug. 18, 2019 1 min read

Trump advisers do not even agree on the extent to which China is paying tariffs on Chinese imports:

PETER NAVARRO: "The tariffs are hurting China. China is bearing the entire burden of the tariffs."

LARRY KUDLOW: "China is paying for these tariffs by a ratio of about 4:1"

Days ago, Navarro and Kudlow both said Trump had delayed some tariffs on Chinese imports to *help consumers* who would be *hurt* by the tariffs.

Reminder:

Through June, Americans directly paid $22 billion in increased costs from Trump's tariffs according to one study.

 https://www.washingtonpost.com/politics/2019/07/23/selective-socialism-donald-trump-farmers-yes-poor-families-no/?_view=prod 

A second study found significant price increases for consumers.

 https://www.cnbc.com/2019/05/13/this-chart-from-goldman-sachs-shows-tariffs-are-raising-prices-for-consumers-and-it-could-get-worse.html 

This as Trump is set to subject 69% of consumer goods from China to tariffs starting Sept. 1, up from 29% currently.

Economists from the World Bank, New York Fed, Columbia and Princeton found the tariff costs are passed on almost entirely to consumers.

 https://www.wsj.com/articles/despite-reprieve-new-tariffs-will-hit-wide-range-of-consumer-goods-11565960400 


You can follow @RiegerReport.



Bookmark

____
Tip: mention @threader_app on a Twitter thread with the keyword “compile” to get a link to it.

Enjoy Threader? Become member.