US manufacturers face higher costs because of tariffs, according to the Federal Reserve

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Last update: 10/25/2018 – 14:51

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WASHINGTON, Oct. 24 (Xinhua) – US manufacturers are facing a cost of Higher inputs Due to tariffs imposed by the Trump government on imports, the US Federal Reserve announced Wednesday in a report.

According to the latest edition of the Federal Reserve's "Beige Book", the economic activity it grew in the United States at a moderate or moderate pace between September and mid-October.

The report notes that US producers are experiencing moderate growth in most regions, while employment has also grown "modestly and moderately". "Across the country."

"Employers across the country have reported narrow labor markets and difficulties in finding skilled workers, including well-trained engineers, nanzas and salespeople, construction workers and manufacturing, IT professionals (information technology) and truck drivers, "said the Fed.

In addition, the central bank revealed that tariffs on US imports it raises prices, according to information provided by the 12 banks of the Federal Reserve throughout the country.

"Manufacturers have reported that the prices of finished products are rising as necessary as the costs of 39, a raw material increased Metals, they attribute to tariffs, "says the Fed in its report.

The US Federal Reserve Chicago, which oversees the US Midwest nis, said retailers in many sectors were expecting consumers to notice it. the impact of US tariffs on imports in early 2019.

The Fed's office in Boston, which oversees the nation's northeast, pointed out that a significant increase in new car prices should also cover the recently imposed tariff burden.

The Fed delegation to Dallas, which oversees the state of Texas, northern Louisiana and southern New Mexico, about 60% of manufacturers said the rates advertised or implemented this year had resulted in increased costs.

Federal Reserve banks from other districts also indicated that local businesses concerns about customs duties.

Earlier this year, the United States imposed tariffs on imports from several trading partners, raising concerns among market agents about rising costs.

The Fed confirmed that prices continued to rise, but he said that it was "modest to moderate growth in all districts".

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