Trade talk is a full of misinformation
MAY 13, 2019 / 12:32 PM / AP
... President Trump's torrent of tweets on the subject Friday followed a rally infused with familiar falsehoods about his achievements (the economy, veterans' health) and grievances (the Russia inquiry) ...
... China is not writing a check to the U.S. Treasury. The tariffs are paid by American companies, which usually pass the cost on to consumers through higher prices. One of the theories is that the higher prices will encourage consumers to instead buy goods made in the U.S. or elsewhere. But the risk is that consumers could simply respond by spending less than they otherwise would ...
The burden of Trump's tariffs on imports from China and other countries falls entirely on U.S. consumers and businesses that buy imports, said a study in March by economists from the Federal Reserve Bank of New York, Columbia University and Princeton University. By the end of last year, the study found, the public and U.S. companies were paying $3 billion a month in higher taxes and absorbing $1.4 billion a month in lost efficiency ...
... the U.S. Trade Representative's Office notes that exports of goods to China have increased by nearly 73% since 2008, and U.S. exports to China overall are up 527% since 2001.
Nor is the trade gap a "loss" in a pure sense. U.S. consumers and businesses get electronics, furniture, clothing and other goods in return for their money. They are buying things, not losing cash ...
https://www.cbsnews.com/news/trump-china-trade-talk-misinformation-tweet-claim-review-2019-05-13/
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