"Whether in other countries or in our country, the trade war provoked by the US government has hurt almost everyone." Jeffrey Frankel, an economics professor at the Kennedy School of Government Administration at Harvard University, told this reporter. Frankel twice served on the US President's Council of Economic Advisers. In his view, the current US government's trade policy cannot be “understood” from a political and economic perspective, because it is difficult to find a group that truly “benefits” from it.
In the past few days, the US government has used inflation as an indicator, claiming that tariff measures will not significantly affect American consumers. In this regard, Frankel expressed a clear opposition. He pointed out that the current US government's additional tariffs on Chinese exports to the United States may cause American families to lose an average of $500 a year, but this does not necessarily immediately change the US inflation rate data, because in addition to trade policy, the macro economy is still subject to many Other factors affect.
Frankel believes that the current US trade policy has brought a rare phenomenon. "Almost everyone suffers losses." He pointed out that "the cost of tariffs on imported goods in the United States is mainly paid by American companies and consumers, not Chinese companies." "From soybeans to automobiles, American producers are losing their export markets."
Not long ago, a report by the International Monetary Fund found that the increase in the price of imported goods after tariffs on China was consistent with the tariff range. Therefore, the tariff costs are basically borne by the US, and some of the tariffs have been It is passed on to American consumers, and the rest is borne by US importers by reducing profit margins.