The Trump administration's trade policies and tariffs reduced U.S. income at a rate of $1.4 billion per month by the end of last November, according to new research from the Federal Reserve Bank of New York, Princeton University and Columbia University.
Amiti, Redding and Weinstein found that while losses were accumulating at a rate of $1.4 billion per month by last November, total losses from January 2018 through November 2018 ballooned to a conservative estimate of $6.9 billion. Trump has had varying success with the tariff tactic, winning both a revised version of the North American Free Trade Agreement as well as alienating key allies including Canada and the European Union. The White House announced a round of tariffs on $200 billion of products imported from China at a 10 percent rate last year.
In the three years prior to the imposition of tariffs, all categories of goods experienced increases in the number of varieties offered in the U.S., the researchers said.
I agree, tariff tax hikes is making America homeless.
He bankrupted many of his own businesses. If allowed he will do the same to this country.
Please share this with everyone!
Tariffs is a tax paid by the consumers of the importing country. It is not paid by producers in the exporting country. Yes, tariffs will reduce the sales of the exporters but the importers will also be hurt unless they have alternative suppliers. US is hurting more than China.
I can’t tell.
$1.4 billion is $4.38 per person. Can anyone not afford $4.38 per month? Why doesn’t try being less DNC lapdog & try being more objective?
In case you missed this post yesterday. This 1.4 billion mentioned is just a tip of the iceberg.
Trumps Tariffs $1.4B per month is a tax, or a projected $33.6B yearly with significant cost as Senator Bennett from Colorado pointed out on farmer bankruptcy!
But how much money is going into the treasury?
NOW DO ILLEGAL IMMIGRATION!
How much IP stealing cost us so far ? curious..
The definition of chump change
Joe Kernen doesn’t believe you.
HeidiHeitkamp trump 2020 - Make America Suck More
FakeNews
MichellesDude Wilbur Ross says that’s just a little bit for each American to pay to make Herr Trump feel good about himself.
And doing absolutely nothing hollowed out the US Manufacturing sector.... cost to US workers = Trillions. What a biased, slanted stupid article but no surprise coming from
Fake news media paid and laid by China lobby?
So you will have the same study after tariffs including increase in jobs gdp and cost
AND it’s not costing the TrumpCrimeSyndicate (aka russiar) anything
HeidiHeitkamp Not just consumers. US exporters and manufacturers of goods sold to China too. Cost my company $10 million in profit. - that our Japanese competition did not have to pay.
Absolutely.Trump cares about money and family business... He turned White House into castle 🏰 for his family and dose not care the price at the pump and prices for goods and services.... hopefully democrats start investigation into oil drilling deals and who owns those companies
a before and after tariff would be great to see -
nitsujreizarf Luckily we received that free Costco membership with the tax cuts! BestPrices
So, roughly $4.25 per person per month.
making 'murica great...
Fair is fair.. these countries tariff us but we allow their goods in for less
What about the employment figures? You can't look at tariff costs without looking at the benefits.
In addition to his golf weekends and taxpayer money laundered through tRump Corp assets.
Lies
Wow that took all of 24 hours to get a new rant. U can’t suck enough CNBC. How much is it costing China? The only POTUS with enough balls to roll out tariffs. realDonaldTrump
You're not saying how good the economy is though smartass! Trump's got balls obammy only dreamed about
There it is folks enjoy America!
with compliments
I say take that tainted study and shove it where sun doesn’t shine!
You mean the guy that bankrupted casinos is now bankrupting Our United States. Gee, what a surprise. Not really. Let's find his supporters on this map.
$1.4 billion/month on a $22 trillion US economy? Look up 'tiny' in the dictionary. This is the very definition. Trump is battling China on trade/theft for the future of all Americans. And CNBC wonders why they're viewed as wall st hucksters & China shills.
That's a pittance in the American economy.
We don’t care - have to protect our industries -
mr_jettlife
Go check prices on a new heater and ac unit for your house, prices have almost doubled. I got 3 quotes and all 3 companies blamed the Tariffs dummyinDC
...and going into government coffers (in other words like taxes) AND STILL the deficit goes up!
Ha you guys suck so bad
The Chinese dragon will eat America soon realDonaldTrump
I hope you can let this go.
Trump is an economic brain GENIUS. 😂
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: washingtonpost - 🏆 95. / 72 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: Forbes - 🏆 394. / 53 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: YahooNews - 🏆 380. / 59 Read more »
Source: washingtonpost - 🏆 95. / 72 Read more »
Source: CNN - 🏆 4. / 95 Read more »
Source: Forbes - 🏆 394. / 53 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »