Reference Message Network reported on May 1st according to the Singapore Straits Times website report on April 30th, US President Trump claimed that the 145% tariff he imposed on China might be mainly borne by China. However, from the sales prices of several hottest Chinese goods sellers, American consumers will bear the main burden of the tariff.
Report said that on some e-commerce giants' platforms, the prices of a large number of American goods have surged sharply. For example, the price increase of a set of kitchen towels could be as high as 377%. On a certain e-commerce platform, as of April 29th, the average price of the top 100 products in the two core categories of toys and games, beauty and health increased more than 40% compared with two weeks ago; the average price of home and kitchen products increased more than 20%, and the price of women's wear climbed by 9%.
Trump and his advisors claimed that it is worthwhile to endure short-term pain for the return of manufacturing to the United States. But former World Bank chief economist Lin Yifu pointed out that when more goods are produced in the United States, prices will also rise accordingly.
Bloomberg cited Lin Yifu's speech at a conference in Beijing on April 2nd: "Even after two or three years when production capacity is established, production costs may still be higher than import costs. During this period, commodity prices will be very high, and supply will not be sufficient to meet demand."
Original article: https://www.toutiao.com/article/7499438194170053135/
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