Research shows that former President Donald Trump’s tariffs on China did indeed raise prices on consumers and businesses — despite his claims otherwise.
The study found tariffs imposed by former President Donald Trump did not meaningfully contribute to inflation.
“The new Biden tariffs, like the more extensive ones that Trump has promised, will worsen US inflation.
It is fair to debate how much the Biden tariffs will impact inflation because they are not nearly as widespread as what Trump imposed and what Trump is promising if he’s reelected.
Trump enacted sweeping tariffs on $300 billion in Chinese imports, setting off a trade war between the world’s two biggest economies.
Persons:
Katherine Tai, Joe Biden’s, ” Tai, —, Donald Trump’s, Tai, Angela Perez, Donald Trump, Goldman Sachs, Tai’s, “ Trump, ” Biden, “, Alex Durante, Tai’s “, Maury Obstfeld, Biden, ”, Trump, he’s, ” Perez, White, Morgan, Daleep Singh, Jen Psaki, Jared Polis, ” Polis, Ed Mills, Raymond James, David Kelly, ” Kelly
Organizations:
New, New York CNN, US, White, Research, CNN, US International Trade Commission, “, China, Tax, Obama, Peterson Institute for International Economics, Biden, Atlantic Council, Bretton, Committee, ”, Colorado Gov, Republicans, Asset Management
Locations:
New York, China, Ukraine, EVs, Europe