Surprise wrote: ↑
Thu Sep 20, 2018 8:20 am
Grammatron wrote: ↑
Thu Sep 20, 2018 2:49 am
People taking China's side is odd to me
People not understanding how tarrifs work is odd to me. China doesn't pay for them, American's do.
Not at all odd to me, given the sorry state of economics education in the US.
Anyway, back to your point: What you said is true, Americans pay the tariffs on Chinese goods. I would like to add, those same tariffs can also hurt Chinese businesses by reducing their sales to America.
Not to mention, Chinese tariffs on American goods are paid for by the Chinese, and can hurt American businesses.
Given a worldwide marketplace, the situation is much more complicated than that. As just one example out of a plethora of complexities, if the American tariffs are only on products from China, and suitably similar products can be bought from other countries, then Americans will tend to buy those and not pay any tariffs at all.
Bonus points: Prior to Trump's Tariff War
trade negotiating tactics, what were the tariffs imposed by China and the US on each other's products?