NOT CHINA..
Donald Trump has found a way to TAKE more money from you and me and blame somebody else….
The man has passed a tax increase for Americans ALL BY HIMSELF going around Congress….
Donald J. Trump may go down in history as the biggest con-man EVER….
- Goldman Sachs said the cost of tariffs imposed by President Donald Trump last year against Chinese goods has fallen “entirely” on American businesses and households, with a greater impact on consumer prices than previously expected.
- The bank said in a note that the trade war’s impact on U.S. consumer prices is now higher than previously expected, partly because Chinese exporters have not lowered their prices to better compete in the US market
- “One might have expected that Chinese exporters of tariff-affected goods would have to lower their prices somewhat to compete in the US market, sharing in the cost of the tariffs,” Goldman said.
Goldman Sachs said the cost of tariffs imposed by President Donald Trump last year against Chinese goods has fallen “entirely” on American businesses and households, with a greater impact on consumer prices than previously expected.
The bank said in a note that consumer prices are higher partly because Chinese exporters have not lowered their prices to better compete in the US market.
Trump has repeatedly — and inaccurately — claimed that China will pay for tariffs imposed by the U.S.
“One might have expected that Chinese exporters of tariff-affected goods would have to lower their prices somewhat to compete in the US market, sharing in the cost of the tariffs,” Goldman said.
“However, analysis at the extremely detailed item level in the two new studies shows no decline in the prices (exclusive of tariffs) of imported goods from China that faced tariffs.”
In addition, US producers have “opportunistically” hiked prices in response to protection from Chinese competitors, the bank said….
Note…
Mexico isn’t paying for a border waLL EITHER….
Increasing revenue to domestic competitors of China (by allowing them to raise prices to the new higher Chinese prices) would only help if that added revenue went back into investing more in plant, jobs, wages and marketing.
On the other hand, domestic producers might respond by keeping their prices low, and gaining more of the market share. Again, if that went back into more employment, that’s good for Americans in the sense that those jobs are back in America rather than in China.
But once those jobs (and local spin-off benefits) have gone abroad, they won’t suddenly return.
Bloomberg says prices are going up for import tax and greed reasons….