This article does a pretty good job of explaining who pays tariffs. What is not discussed is what the US government does with tariff revenue. While investing in education or healthcare would be a nice idea, the US budget deficit is so large ($310 billion, https://www.bloomberg.com/news/articles/2019-03-05/u-s-budget-deficit-widens-77-percent-as-revenue-declines) that an extra 10 or 20 billion in tariffs won’t solve the deficit problem.
Anybody buy a washing machine lately?
One thought on “Explainer: Who pays Trump’s tariffs – China and other exporters or U.S. customers? – Reuters”
I appreciate your sharing this article. I believe that this information has largely overlooked by the working American public.