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Economics
Trade

US Tariffs on Metals, Some China Goods Raised American Prices

  • Report finds near one-to-one link between duties, import costs
  • International Trade Commission studied impact from 2018-2021
Rolls of steel on the transport wharf at a production facility in Shanghai, China.

Rolls of steel on the transport wharf at a production facility in Shanghai, China.

Photographer: Qilai Shen/Bloomberg
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US importers bore almost the entire burden of tariffs that President Donald Trump placed on more than $300 billion in Chinese goods, raising the cost of goods bought by American companies, a report by an independent US government agency found.

The US International Trade Commission, a bipartisan entity that analyzes trade issues, found an almost one-to-one increase in the price of US imports following the so-called section 301 tariffs, it said in a report on Wednesday. The report came in response to a directive from Congress as part of a law passed last year.