"The US collected a record $7 billion in import tariffs" in one month, said Josh Zumbrun in The Wall Street Journal. Records released last week show $5 billion in tariff revenue coming to the U.S. Treasury in September from importers of Chinese goods, out of a total of &7 billion in levies for the month.
The U.S. took in more that $70 billion in tariffs in the first nine months of 2019.
That money was paid by the U.S. companies that bought the goods. One executive in the apparel industry, which has been hit especially hard, called it "a massive expansion of taxation on American employers and consumers."
The average American household will be down $1,000 per year thanks to the newest round of tariffs on Chinese goods, according to J.P. Morgan.
The U.S. took in more that $70 billion in tariffs in the first nine months of 2019.
That money was paid by the U.S. companies that bought the goods. One executive in the apparel industry, which has been hit especially hard, called it "a massive expansion of taxation on American employers and consumers."
The average American household will be down $1,000 per year thanks to the newest round of tariffs on Chinese goods, according to J.P. Morgan.
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