The tariffs are also causing an additional $1.4 billion in deadweight losses and a diversion of $165 billion a year in trade, which is creating additional costs resulting from companies reorganizing supply chains.
Study Quantifies Costs of Trade Tariffs
Economists from the Federal Reserve Bank of New York, Princeton University and Columbia University have concluded that President Donald Trump's tariffs, imposed last year on products ranging from washing machines and steel imported from China, are costing U.S. companies and consumers $3 billion a month in additional taxes. So reports BNN Bloomberg.