The president has repeatedly stated Washington raises “hundreds of billions of dollars” in tariffs from China.
President Donald Trump's claims that the new tariffs imposed on Chinese goods are paid for by Chinese companies have been discredited by a new report.
However, while Trump suggested the U.S. held all the cards in the dispute and that businesses would leave China to avoid paying increased levies, the IMF believes the bills are being footed by U.S. companies instead. "While the direct effect on inflation may be small, it could lead to broader effects through an increase in the prices of domestic competitors,” the IMF said.
The graphic below, provided by Statista, illustrates how existing and proposed U.S. tariffs would become much higher than those of other advanced economies.
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