“Tariffs on Chinese imports are paid by Americans, not by the Chinese or their government. The President’s tariffs are simply a #tax on American consumers.”
— Tweet by Steve Hanke, Professor of Economics at Johns Hopkins University, member of the Council of Economic Advisers under President Reagan
With US/China trade and tariff talk in the news, it’s important to understand who actually pays tariffs.
Hint, it’s not who Mr. Trump tweets it is.
Relax and enjoy your weekend!