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4min chapter
Did the Tariffs Work? The Trade War Five Years Later
Money For the Rest of Us
The Effect of Tariffs on Chinese Imports
Imports of steel dropped 24% from 2018 to 2021. Aluminum imports fell 31%. There was more production of US steel. But prices also increased because it was more expensive to produce steel and aluminum in the US. The lowest income consumers, they paid the most. They paid 1.2% of their after-tax income to fight the trade war.
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