Trump lies about tariffs

Harris L Tariffs May 5, 2019May 8, 2019 1 Minute

We pay the additional costs, not the Chinese. Trump is lying or doesn’t understand tariffs. He has said things like this several times so I assume someone has explained tariffs to him. I think this is just another lie.

For those who have never studied econ, history, trade, etc, tariffs are NOT something one country (China) pays another (USA)

They are an additional tax/ price that whoever BUYS the product has to pay. A $500 washer might cost $600 with tariffed steel. US consumers pay every cent https://t.co/ZW8AHWsgKy
— James Fallows (@JamesFallows) May 5, 2019

2/2 There are cases when tariffs can make good strategic and economic-development sense. (As I argued in detail here: https://t.co/0vrdYjI1vE )

But the idea that China is paying this cost, rather than US consumers, is so wrong as to be beyond the known range of wrongness
— James Fallows (@JamesFallows) May 5, 2019

That's $100 billion in tax hikes on Americans.

Example: Trump tariffs raised price of a washing machine $86, price of a dryer $92.https://t.co/inlbC4BYmi https://t.co/nW1cRd1cNQ
— Rick Newman (@rickjnewman) May 8, 2019

Published by Harris L

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Published May 5, 2019May 8, 2019

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