July 30, 2018
The President’s New Round of 301 Tariffs Will Harm American Consumers and Businesses
Today the American Action Forum released research calculating the costs of President Trump’s new round of Section 301 tariffs on $200 billion of Chinese imports. The research finds the new tariffs could raise overall costs for both consumers and businesses by around $19.7 billion annually. Furthermore, 70 percent of the proposed tariffs are on goods that American businesses use in domestic production and over 98 percent will affect the manufacturing industry thereby increasing domestic production costs. The new tariffs will harm the U.S. economy on multiple fronts, raising the price American consumers pay for goods while making it more costly for manufacturers in the United States.
Click here to read the research.