[ad_1]
US President Donald Trump said things were going well in China, insisting that US consumers do not pay the import taxes it imposed on products. from that country, although economists say that Americans pay the bill.
"Things are going very well in China, they are paying us tens of billions of dollars, made possible by their currency devaluations and providing them with huge sums to make their system work." Up to now, our consumer pays nothing – and no inflation No help from Fed! "Trump tweeted Saturday.
He also said – without presenting evidence – that countries were asking to negotiate "real trade agreements", saying on Twitter: "They do not want to be the target of tariffs by the United States."
Trump suddenly decided Thursday to spoil 10% of the $ 300 billion import tariffs of Chinese, dizzying financial markets and the end of a commercial truce a month.
China promised Friday to respond.
Tariffs aim to increase the price of foreign products to stimulate domestic producers, unless international exporters reduce their prices. But there is no indication that China is cutting prices to reflect Trump's tariffs.
A study published by the National Bureau of Economic Research in March found that all tariff costs imposed in 2018 were pbaded on to US consumers.
[ad_2]
Source link
