From WSJopinion: The evidence of economic harm from tariffs keeps piling up, writes The Editorial Board
The evidence of economic harm from tariffs keeps piling up. Two studies out this month from the National Bureau of Economic Research indicate—again—that U.S. tariffs are paid almost entirely by American consumers, while illustrating how they also act as a drag on U.S. exports.
The first paper is by economists at the Federal Reserve Bank of New York, Princeton and Columbia. They examined data on U.S. customs through October 2019. By then, as they calculate, the average U.S. duty had more than tripled, from 1.6% to 5.4%....
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