Trump again insists that China pays his tariffs
President Donald Trump falsely claimed Friday — yet again — that China pays for the tariffs he has imposed on Chinese imports.
“I think our tariffs are working out very well for us,” he added. “People don’t understand that yet.”"People don't understand that yet," he says about his false claim that China is paying for them. pic.twitter.com/5gk1q257WHIn fact, U.S. companies importing Chinese goods pay the tariffs, and typically pass some, if not all, of the costs onto American consumers. Economists have estimated that the trade war is costing U.S. companies and consumers more than $3 billion a month.
“Trade policy uncertainty seems to be playing a role in the global slowdown and in weak manufacturing and capital spending in the United States,” Powell said at the Federal Reserve Bank of Kansas City’s annual symposium in Jackson Hole, Wyoming.
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