US tariffs on China have been paid almost entirely by US importers: IMF

A study by the International Monetary Fund (IMF) reveals that US tariffs on Chinese goods are an unintended goal due to the trade war.

The study, released on Thursday, revealed that customs revenue collected on Chinese products "has been almost fully supported" by US importers.

China and the United States have been engaged in a trade war for more than a year. During this period, they targeted multi-billion dollar goods subject to high tariffs. However, "border prices (excluding tariffs) of imports from China have hardly changed and prices of post-tariff imports have risen sharply, which corresponds to the size of the customs tariff. ", said the study.

On May 8, President Donald Trump said that the higher levies on Chinese products "fill the coffers of the United States" to the tune of 100 billion dollars a year. But the IMF said the bilateral trade deficit between China and the United States remained "broadly unchanged" even with tariffs.

Trump also raised the possibility of raising tariffs on an additional $ 300 billion worth of Chinese products. According to the IMF, this could be detrimental for consumers, as businesses should bear the additional costs.

"US and Chinese consumers are undoubtedly the losers of trade tensions," says the IMF report, adding that an increase in tariffs could also hurt economic growth. "If the impact on global growth is relatively modest at the moment, the latest escalation could significantly weaken the business and financial market climate, disrupt global supply chains and jeopardize recovery." projected growth in 2019. "

Subscribe to CNBC on YouTube.