American consumers are going to see 7-10% increase in prices such as clothing and footwear as the year end holiday season dawns on us, especially those imported from China. The question is – where is the revenue from the tariff increases going to in the US? Is this going to fund some government programme that benefits the consumers? Or is it helping to reduce the huge budget deficit since the recession of 2009? No transparency on this, it seems. Otherwise, it would simply be a fund raising programme camouflaged as unfair trade imbalance.
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