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U.S. Tariffs On China to Cost American Households

Credit: Wochit News
Published on May 23, 2019 - Duration: 00:38s

U.S. Tariffs On China to Cost American Households

According to Reuters, researchers have said that the newest round of U.S. tariffs on Chinese imports will cost the typical American household $831 annually.

Washington this month hiked existing tariffs on $200 billion in Chinese goods to 25% from 10%, prompting Beijing to retaliate with its own levies on U.S. imports.

Research published by the New York Federal Reserve Bank estimated that as tariffs grow larger, importers have more of an incentive to switch to goods from more expensive countries.

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