Trump tweeted his intention to hike tariffs to 25% on Friday and threatened to add tariffs to more products. The Wall Street Journal reported that China is considering canceling the trade talks in light of Trump’s threats. In fact, American consumers absorb the cost of tariffs on imported Chinese goods by paying higher prices for the products. For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods. Trump has repeatedly claimed — despite multiple criticisms and corrections — that China pays tariffs directly to the U.S.

Source: Huffington Post May 06, 2019 11:03 UTC