Economics
IMF Says U.S. Is Paying China Tariff Costs, Contrary to Trump’s Claim
- Fund calls U.S. and Chinese consumers ‘losers’ in trade battle
- All-out trade war seen cutting global GDP a third of a point
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Companies in the U.S. are paying almost all the costs from Donald Trump’s tariffs on Chinese imports, IMF researchers said in findings that contradict the president’s assertions that China is footing the bill.
IMF researchers found “tariff revenue collected has been borne almost entirely by U.S. importers,” according to the International Monetary Fund’s blog post released Thursday.