Former US Treasury Deputy Slams Trump's Tariffs as Study Reveals Actual Rates Much Lower
A former US Treasury deputy, Brent Neiman, has criticized Trump's tariffs in a New York Times article. Neiman's study reveals that the actual tariff rates, using a realistic pass-through rate, should be a quarter of the current levels.
Neiman's research shows that foreign suppliers pass almost the entire tariff on to US importers, with a pass-through rate of around 95 percent. This contradicts the Trump administration's use of a much lower 25 percent rate in its calculations.
The 25 percent tariff rate was imposed under Section 232 of the Trade Expansion Act of 1962, supposedly to protect US national security interests. However, Neiman argues that the administration misinterpreted his study to justify these high fiscal policies.
Neiman's findings highlight the impact of the misapplication of his study on American consumers and businesses, as well as trading partners worldwide. If the realistic pass-through rate had been used, the actual tariff rates would be significantly lower, potentially altering the economic landscape.
Read also:
- Germany's Coalition Explores Social Security Reforms Amid Record Spending
- chaos unveiled on Clowning Street: week 63's antics from 'Two-Tier Keir' and his chaotic Labour Circus
- Skechers Debuts First American Stores Focused on Athletic Footwear Performance
- Budget discrepancy jeopardizes highway projects' financial support
