ABSTRACT

Escalating U.S. Tariffs: Affected Trade [Updated June 21, 2019]   [open pdf - 758KB]

From the Document: "The trade practices of U.S. trading partners and the U.S. trade deficit are a focus of the Trump Administration. Citing these and other concerns, the President has imposed tariff increases under three U.S. laws. [...] While tariffs may benefit a limited number of import-competing firms, they also increase costs for downstream users of imported products (e.g., Ford estimates the metal tariffs cost the firm nearly $1 billion) and consumers (e.g., research by economists from the New York Federal Reserve estimates the tariffs in effect in 2018 cost the average household $414, which could grow to $831 with the recent 15% increase on Chinese imports), and may have broader negative effects on the U.S. economy, as well as several policy implications."

Report Number:
CRS Insight, IN10971
Author:
Publisher:
Date:
2019-06-21
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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