by Summary:
Tariffs are a form of taxation. Indeed, before the 1920s, tariffs (or customs duties) were typically the largest source of funding for the U.S. government. Of little interest for decades, tariffs are again becoming relevant, given the substantial increase in the rates charged on imports from China. U.S. businesses and consumers are shielded from the higher tariffs to the extent that Chinese firms lower the dollar prices they charge. U.S. import price data, however, indicate that prices on goods from China have so far not fallen. As a result, U.S. wholesalers, retailers, manufacturers, and consumers are left paying the tax. Liberty Street Economics — FRBNYWho Pays the Tax on Imports from China? Matthew Higgins, Thomas Klitgaard, and Michael Nattinger, FRBNY
Topics:
Mike Norman considers the following as important: tariffs
This could be interesting, too:
Tariffs are a form of taxation. Indeed, before the 1920s, tariffs (or customs duties) were typically the largest source of funding for the U.S. government. Of little interest for decades, tariffs are again becoming relevant, given the substantial increase in the rates charged on imports from China. U.S. businesses and consumers are shielded from the higher tariffs to the extent that Chinese firms lower the dollar prices they charge. U.S. import price data, however, indicate that prices on goods from China have so far not fallen. As a result, U.S. wholesalers, retailers, manufacturers, and consumers are left paying the tax. Liberty Street Economics — FRBNYWho Pays the Tax on Imports from China? Matthew Higgins, Thomas Klitgaard, and Michael Nattinger, FRBNY
Topics:
Mike Norman considers the following as important: tariffs
This could be interesting, too:
Dan Crawford writes Tariffs and Inflation
Mike Norman writes “Across-the-Board Tariffs on China with Retaliation and Federal Spending Create Over 1 Million Jobs in Five Years” — Menzie Chinn
Mike Norman writes Kenneth Rapoza — Trump’s Base in Panic Over 25% Tariffs on China Goods
Mike Norman writes Reuters — Explainer: Who pays Trump’s tariffs – China and other exporters or U.S. customers?
Tariffs are a form of taxation. Indeed, before the 1920s, tariffs (or customs duties) were typically the largest source of funding for the U.S. government. Of little interest for decades, tariffs are again becoming relevant, given the substantial increase in the rates charged on imports from China. U.S. businesses and consumers are shielded from the higher tariffs to the extent that Chinese firms lower the dollar prices they charge. U.S. import price data, however, indicate that prices on goods from China have so far not fallen. As a result, U.S. wholesalers, retailers, manufacturers, and consumers are left paying the tax.Liberty Street Economics — FRBNY
Who Pays the Tax on Imports from China?
Matthew Higgins, Thomas Klitgaard, and Michael Nattinger, FRBNY