Trump tariffs: Total disaster for American importers and consumers

 

Screengrab:  Bloomberg Podcasts via YouTube

Michael Willner reports for the Los Angeles Times:

Federal customs duties brought in tens of billions of dollars. However, a study published this week by the European Central Bank found U.S. importers and consumers, not foreign exporters, bore the brunt of the costs — and an even larger share of the burden will fall on American households and companies the longer Trump’s tariff policies stay in place. 

Despite the president’s pronouncements, tariff earnings barely made a dent in the federal debt.  [emphasis added]

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