Yes, Trump tariffs are costing billions, and no, China isn't paying

[Yo_Mama_Been_Loggin]

President Donald Trump is justifying raising tariffs on Chinese imports on grounds they are helping the U.S. economy and are mostly paid by China. The opposite is true, economists say.

According to data from U.S. Customs and Border Protection, almost $15.3 billion in duties imposed by the Trump administration last year were assessed on imported goods from China as of April 10. Actual collections could lag and be lower with refunds and other factors.

While Trump has suggested on Twitter and in public comments that tariffs are somehow being charged to or paid by China, economists say that’s misleading. U.S. importers are responsible for the duties, and ultimately U.S. businesses and consumers pay through higher costs, they say.

“Our results imply that the tariff revenue the U.S. is now collecting is insufficient to compensate the losses being born by the consumers of imports,” a study published in March by economists from the Federal Reserve Bank of New York, Princeton University and Columbia University concluded.

The Trump administration plans to more than double duties on $200 billion in Chinese imports at 12:01 a.m. on Friday in response to what officials said was China reneging on commitments as the world’s two largest economies try to negotiate a sweeping trade deal. China’s top trade negotiator Liu He will travel to the U.S. this week as the high-stakes talks continue.

https://www.msn.com/en-us/money/markets/yes-trump-tariffs-are-costing-billions-and-no-china-isnt-paying/ar-AAB2sFT?li=BBnbfcN

[LibFarmer]

1. The Chinese are better negotiators

and a heck of lot smarter than the dumb orange clown. They will use Kim Jong Un again to play with Trump's head and create a situation where Trump needs them more than they need Trump.

[ooky]

2. Anybody is a better negotiator than President Sigmund Fraud.

Anybody who has ever been involved in any level of serious negotiations can quickly tell that his negotiation acumen is a joke. He has zero ability. We've seen that firsthand with Kim and Pelosi. Putin just tells him what to do while he shakes his head yes. As a negotiator he's a fucking disaster. Anyone waiting for him to negotiate better trade deals is going to be waiting forever, there is no end game. Every time he opens his mouth the farmers and taxpayers subsidizing his trade negotiation fraud will get poorer.

[LibFarmer]

4. I love the "Sigmund Fraud"

I am going to borrow that term from you!

[Aussie105]

3. The extra costs of a tariff

on Chinese export industry products will simply be added to the cost of their products landed in the USA.

The result?

Chinese producers are not affected. The demand for their products - products not made in the USA -won't dry up overnight.

US consumers will pay more for all the things imported from China. With wages stagnating, it's the last thing that consumers want.

Let's be honest. If the trade between China and America was stopped altogether, who would suffer most?
China has other markets for it's products, like Europe, India. But your next Apple phone or computer hardware? Try finding another source for that!