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You are here News Economy Experts: China tariffs have sacked U.S. income by $1.4B a month

Experts: China tariffs have sacked U.S. income by $1.4B a month

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China tariffs cosg US billions U.S. tariffs on China are having a tremendous impact on Americans' income -- to the tune of more than $1 billion every month, the Federal Reserve of New York and researchers said in a new fiscal analysis.

The price of goods and products saw "substantial increases" because imports include a "complete passthrough" of tariffs imposed by the Trump administration, according to research from the New York Fed, Princeton University and Columbia University. The research also said domestic products had less competition from imports, which raised prices.

By the end of November, U.S. income was reduced by a rate of $1.4 billion per month, the study said. The economists -- Mary Amiti of the New York Fed, Princeton professor Stephen Redding and Columbia professor David Weinstein -- said a lack of import variety and supply disruptions were significant factors.

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