Has the relationship between the U.S. and China simply hit a speed bump or are the events of the last several days a sign of something more serious? WSJ's Gerald F. Seib explains. Photo: GettyThe Trump administration’s latest increase in tariffs on Chinese imports is costing the average U.S. household $831 a year through higher prices and reduced economic efficiency, according to a paper published by the Federal Reserve Bank of New York. The tariffs, which essentially impose taxes on imported goods, will result in higher prices paid by importers and consumers, the New York Fed’s report said.

Source: Wall Street Journal May 23, 2019 18:45 UTC