China appears to be taking the brunt of the economic impact of President Donald Trump’s trade war, at least according to a paper published by EconPol Europe.
The paper, authored by Benedikt Zoller-Rydzek and Gabriel Felbermayr, asserts that American consumers and U.S.-based companies will only absorb 4.5 percent of the 25 percent tariff increase imposed on China — the remaining 20.5 percent will be picked up by China — and this applies to $250 billion in Chinese goods.
Critics argue that the real impact has only begun to take its toll on Amerian farmers, in particular with regard to soybeans.
More
1 comment:
And Mexico will pick up the bill for the wall!
Post a Comment