A recent report by the Federal Reserve Bank of New York has raised alarms about the economic impact of US tariffs on imports from the Chinese mainland. 🇺🇸🇨🇳
Published on Wednesday, the study suggests that President Donald Trump's tariffs could be causing more harm to the US economy than what official trade data currently shows. 📊
The research points out significant gaps in the official data, indicating that the true effect of these tariffs on American consumers might be underestimated. This means that everyday shoppers could be feeling the pinch more than expected, leading to higher prices and reduced purchasing power. 💸🛒
Economists and trade analysts are closely watching these findings, as they could influence future policy decisions and trade negotiations. Understanding the real impact of tariffs is crucial for creating strategies that support both the economy and consumers. 🔍🤔
Reference(s):
Study: Tariffs on China risk hurting US economy more than data suggest
cgtn.com
