Research shows U S firms and consumers are paying tariff costs

In a new research study, the New York Federal Reserve says American companies and consumers are the ones bearing the cost of tariffs in China-U.S. trade tensions. They estimate it's costing corporations and families 40 billion U.S. dollars annually. This is contrary to what many U.S. officials have said, that China would pay the cost with Chinese firms forced to lower prices to absorb tariff costs. According to the research, prices of Chinese firms haven't changed much with Chinese import prices falling only two percent from June last year to this September. The research also showed that China is not using a lower yuan to gain a competitive edge in trade.

Subscribe to us on YouTube:
Download our APP on Apple Store (iOS):
Download our APP on Google Play (Android):

Follow us on:
Website:
Facebook:
Instagram:
Twitter:
Pinterest:
Tumblr:
Weibo:
Douyin:

CCTV,CGTN,CCTVNews,News,ChinaNews,WorldNews,US,China,tariff costs,