Tariff war with China cost US $4.4bn every month last year

© Tanaonte

Those praising the US administration’s ongoing dispute with the Chinese may wish to rethink their allegiances, if this South China Morning Post article is anything to go by. According to the report, US companies and consumers paid out an additional $4.4bn a month last year as a result of the tariff war. Citing economists from Columbia, Princeton and the NYC Federal Reserve, the report claims those exposed to the duties “paid none of the bill”. This probably came as a delight to the people’s republic and would represent a massive own goal for the Trump administration.