Source: Joe Hoft
President Trump has said for years that the US was hurt by politicians that didn’t protect US jobs. He decided to do something about and the US is winning because of it!
The far-left Washington Post wrote in August that President Trump’s tariffs will cost the average family hundreds of dollars a year –
More than a year into the U.S.-China trade war, American consumers are about to find themselves squarely in the crosshairs for the first time, with households estimated to face up to $1,000 in additional costs each year from tariffs, according to research from JPMorgan Chase.
Consumers, whose spending fuels about 70 percent of the U.S. economy, have been largely shielded from previous rounds of tariffs, which have left businesses reeling and upended global supply chains. But that’s about to change with the 10 percent levies on roughly $300 billion in Chinese imports, about a third of which will take effect Sept. 1. Those tariffs will primarily target consumer goods.
But it was just more fake news from the far left Washington Post.
Sorry liberals, Trump’s tariffs are having little to no impact on the cost of goods to the consumer.
The Bureau of Labor Statistics reported this morning that the costs of imports actually went down in August.
Prices for U.S. imports fell 0.5 percent in August following a 0.1-percent increase in July and a 1.1-percent decline in June. With the exception of the August and June decreases, U.S. import prices advanced in each month of 2019. Despite the increases, the price index for U.S. imports declined 2.0 percent from August 2018 to August 2019. (See table 1.)
Fuel Imports: Import fuel prices decreased 4.3 percent in August, after rising 0.7 percent the previous month. Prices for import fuel fell 11.1 percent over the past 3 months. In August, lower petroleum prices more than offset higher prices for natural gas. The price index for import petroleum declined 4.8 percent, after increasing 0.9 percent the previous month. Fuel prices decreased 8.7 percent over the past 12 months; prices for import petroleum fell 9.6 percent over the same period. The price index for natural gas imports rose 16.0 percent in August, after declines in each of the previous 4 months. Despite the August increase, natural gas prices fell 6.1 percent over the past year.
All Imports Excluding Fuel: Prices for nonfuel imports were unchanged for the second consecutive month in August following 0.3-percent decreases in both June and May. In August, lower prices for foods, feeds, and beverages and nonfuel industrial supplies and materials were offset by price increases for automotive vehicles and consumer goods. Prices for nonfuel imports declined 1.0 percent over the past 12 months, led by price decreases for industrial supplies and materials and capital goods.
President Trump said years ago what he would do years ago about China to stop their theft of American jobs – tax China 25%.