June 11, 2019
UPDATE: Tariff Watch Providing the Most Accurate Figures on the President’s Tariffs
Trade barriers imposed by the Trump Administration threaten to diminish the benefits of international trade. AAF’s Director of Immigration and Trade Policy Jacqueline Varas has created a one-stop shop for you to keep up with President Trump’s trade actions and their impact on the U.S. economy.
Varas has updated her cost estimates using 2018 import data, providing the most accurate picture of the impact of the tariffs. President Trump’s tariffs affect over $283 billion in imports at an additional consumer cost of nearly $70 billion per year.
These tariffs only hurt the economy, Varas notes:
Trade barriers such as tariffs increase the cost of both consumer and producer goods and depress the economic benefits of competition, inhibiting economic growth.