Trump: China Is “Paying Us Ten Of Billions” In Tariffs

Reuters reports:

U.S. President Donald Trump said on Saturday that things are going well with China, insisting U.S. consumers are not paying for import taxes he has imposed on goods from that country although economists say Americans are footing the bill.

Tariffs are intended to make foreign goods more expensive to boost domestic producers, unless international exporters reduce prices. But there has been no evidence that China is cutting prices to accommodate Trump’s tariffs.

A study published by the National Bureau of Economic research in March found that all of the cost of tariffs imposed in 2018 were passed on to U.S. consumers.

Things are going along very well with China. They are paying us Tens of Billions of Dollars, made possible by their monetary devaluations and pumping in massive amounts of cash to keep their system going. So far our consumer is paying nothing – and no inflation. No help from Fed!

— Donald J. Trump (@realDonaldTrump) August 3, 2019

Countries are coming to us wanting to negotiate REAL trade deals, not the one sided horror show deals made by past administrations. They don’t want to be targeted for Tariffs by the U.S.

— Donald J. Trump (@realDonaldTrump) August 3, 2019