Trump’s duties cost $ 40 billion from American companies

Customs duties imposed on individual states by US President Donald Trump have cost US companies more than $ 40 billion in less than two years.

This was pointed out by an analysis of the consulting company Trade Partnership Worldwide, based on data from the US Department of Commerce. This was caused by retaliation by the countries concerned Trump duties.

According to an analysis of Trump’s tariffs, American companies have been standing since February 2018 by the end of November 2019 a total of 46 billion USD (41.40 billion euros). Within this amount, the most American companies damaged the tariffs imposed by Trump for Chinese products. Of the $ 46 billion, that’s up $ 37.3 billion.

In addition, companies paid, for example, for retaliation by states that thus responding to US import duties on steel and aluminum. Trump introduced these duties in February 2018.

In addition, it turned out that even if the situation calmed down, exports did not recover. For example, after Trump abolished tariffs on steel and aluminum in May from Canada and Mexico and these countries have abolished their own retaliatory duties on American ones products, the exports of the products concerned to the said States shall be originating in the original country level did not return.

“It was expected that after the abolition of customs duties, the business would start growing again, that is however, it did not happen in the next six months, “said the vice president Trade Partnership Worldwide Dan Anthony. “It simply came to our notice then other products, which decreased as a result of customs duties. There is no guarantee that in the event of the abolition of other retaliatory duties, the exports concerned goods from the US will recover, “Anthony added.

Customs duties imposed on individual states by US President Donald Trump have cost US companies more than $ 40 billion in less than two years.

This was pointed out by an analysis of the consulting company Trade Partnership Worldwide, based on data from the US Department of Commerce. This was caused by retaliation by the countries concerned Trump duties.

According to an analysis of Trump’s tariffs, American companies have been standing since February 2018 by the end of November 2019 a total of 46 billion USD (41.40 billion euros). Within this amount, the most American companies damaged the tariffs imposed by Trump for Chinese products. Of the $ 46 billion, that’s up $ 37.3 billion.

In addition, companies paid, for example, for retaliation by states that thus responding to US import duties on steel and aluminum. Trump introduced these duties in February 2018.

In addition, it turned out that even if the situation calmed down, exports did not recover. For example, after Trump abolished tariffs on steel and aluminum in May from Canada and Mexico and these countries have abolished their own retaliatory duties on American ones products, the exports of the products concerned to the said States shall be originating in the original country level did not return.

“It was expected that after the abolition of customs duties, the business would start growing again, that is however, it did not happen in the next six months, “said the vice president Trade Partnership Worldwide Dan Anthony. “It simply came to our notice then other products, which decreased as a result of customs duties. There is no guarantee that in the event of the abolition of other retaliatory duties, the exports concerned goods from the US will recover, “Anthony added.