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"[E]conomists and other experts who have done the math, and found that the tariffs Trump has imposed on imports from China cost American consumers $68.8 BILLION last year, though some of that spending got funneled back to some domestic producers in the form of higher prices (which their customers, of course, paid)." [Trump’s $16-billion farm bailout means you’re paying for his tariff war twice]
TARIFFS ARE TAXES PAID BY AMERICANS, not China. On top of these new taxes we are paying because he doesn't understand how this works, the farmers needed a $12BILLION emergency bailout last year and now a $16BILLION bailout this year.
Soybean farmers have been hit the hardest with mountains of product unable to sell. And China has switched to importing soybeans from Brazil, which means that the American farmers are unlikely to regain the market when this stupid tariff war ends. In other effects, Whirlpool has increased the prices on washing machines and 40,000 beer industry workers have lost their jobs.
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