class="post-template-default single single-post postid-391478 single-format-standard group-blog masthead-fixed full-width singular wpb-js-composer js-comp-ver-6.0.3 vc_responsive"
Trade Groups Claims Americans Have Paid $22 Billion in Tariffs Through Trade War | KRVN Radio

Trade Groups Claims Americans Have Paid $22 Billion in Tariffs Through Trade War

Trade Groups Claims Americans Have Paid $22 Billion in Tariffs Through Trade War

New data released by Tariffs Hurt the Heartland shows Americans have paid nearly $22 billion in additional tariffs since the trade war with China began.

The data, which is broken down by individual tariff action, shows American businesses and consumers have paid $15 billion in higher costs due to tariffs on Chinese imports. The data runs through April 2019, the most recent month available through the U.S. Census Bureau.

A spokesperson for the pro-free trade group says the tariffs are “erasing the benefits of tax reform,” and raising costs for U.S. businesses and families.

The data shows more than 70 percent of the additional tariffs collected during the trade war have come from Section 301 tariffs on China. Many of those tariffs increased from 10 percent to 25 percent in May.

Through April, more than $15 billion in all tariffs has come from China 301 tariff actions. The data also shows exports generally decreased by 2.5 percent from April 2018 levels.

© 2019 Nebraska Rural Radio Association. All rights reserved. Republishing, rebroadcasting, rewriting, redistributing prohibited. Copyright Information
Share:
Comments