05-18-2021, 02:32 PM
- Most of the elevated tariffs imposed at the height of the U.S.-China trade war have remained in place and affect over half of all trade flows between the two countries, said Moody’s.
- U.S. importers absorbed more than 90% of additional costs resulting from the 20% U.S. tariff on Chinese goods, the ratings agency said in a report.
- U.S. exporters also absorbed most of the costs from tariffs imposed by China, according to the report.
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American businesses are bearing most of the cost burden from the elevated tariffs imposed at the height of the U.S.-China trade war, said Moody’s Investors Service.
The ratings agency said in a Monday report that U.S. importers absorbed more than 90% of additional costs resulting from the 20% U.S. tariff on Chinese goods.
That means U.S. importers pay around 18.5% more in price for a Chinese product subject to that 20% tariff rate, while Chinese exporters receive 1.5% less for the same product, according to the report.
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