Tag Archives: tariffs

Tariffs and Inflation Kevin Quinn, Econospeak  Jason Furman and Janet Yellen have both suggested that cutting Trump’s tariffs would be anti-inflationary. But most economists agree that the incidence of the tariffs is for the most part on US consumers, not foreign suppliers (pace the treasonous and ignorant former president, who crowed about all the revenues we were raising from China). So how is a tax cut anti-inflationary?  There is a supply-side...

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...

I’ve read the “working paper” (and the preceding paper) a couple of times, and am not clear what happens — the results are based on splicing two models (REMI and BCG data) and running out the results. Alarm bells went off in my head when I read this: You decide.Econbrowser“Across-the-Board Tariffs on China with Retaliation and Federal Spending Create Over 1 Million Jobs in Five Years”Menzie Chinn | Professor of Public Affairs and Economics, Robert M. La Follette School of Public Affairs,...

“I don’t think people really understand what is at stake,” says Alex Camera, CEO of Audio Control, a privately held, small business manufacturing audio sound equipment near Seattle, Washington. He imports electronic components from China and makes things like power amplifiers for cars. They design it and put it together in Washington. “Trump says China is paying these tariffs, but they are not. I am. U.S. companies are paying it at the port.” Tariffs are port taxes due at the time of...

Tariffs are paid by importers, not exporters. Doh.ReutersExplainer: Who pays Trump's tariffs - China and other exporters or U.S. customers?

President Trump is about to get an earful from Americans hurt by the escalating trade war. Zero Hedge"This Is Just The Very Tip Of The Iceberg" - Spike In Tariffs Paid By US Businesses Tyler Durden

How does a tariff work? A tariff is a tax on imported goods, so if a Chinese good is sold to an American, the American literally has to pay the tax. The quote above is from Mr. Trump, as recounted in Peter Coy’s “The Real Pain From Trump’s Tariffs Trickles Down to Consumers” in Bloomberg Businessweek; it clearly highlights the fact that either (1) Mr. Trump has no understanding of how tariffs work, or (2) he does understand, and he’s lying.... Trump is apparently assuming that the price...

President Donald Trump concedes that some Apple Inc. products may become more expensive if his administration imposes “massive” additional tariffs on Chinese-made goods, but he says the tech company can fix the problem by moving production to the U.S. “Start building new plants now. Exciting!” Trump said Saturday in a tweet aimed at the Cupertino, California-based company.... TimePresident Trump Says Apple Can Avoid Tariff Consequences by Opening U.S. Plants David Koenig | A P

In effect, a tariff. ReutersU.S. calls foreign mail system unfair in surprise win for Amazon

Keeper Joan Robinson quote on trade.The Case for Concerted Action Misinterpretation Of Joan Robinson’s Quote On Dropping RocksV. Ramanan