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Unread 2019-05-23, 15:13   #1
aarkieboy's Avatar

Feb 5 2003
85,724 posts
Age 63
Somewhere on this ball we call "Earth"

"The latest round of U.S. tariffs on Chinese imports will cost American households $106 billion a year, or $831 for the average family in the U.S., according to economists at the New York Federal Reserve, underscoring the economic toll of the deepening trade dispute.

The growing tally comes as the result of the Trump administration hiking tariffs to 25% from 10% on $200 billion in Chinese goods, which took effect nearly two weeks ago.

"According to our estimates, these higher tariffs are likely to create large economic distortions and reduce U.S. tariff revenues," according to a blog post Thursday by Mary Amiti, assistant vice president at the New York Fed, Stephen Redding of Princeton University and David Weinstein of Columbia University." (More)
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