Tariff Travails

Prior to slapping tariffs on China, US tariff revenues were $3 billion/month. They’re now $7 billion/month; an increase of around $50 billion/year or 0.25% of GDP. Thus, GDP has been reduced by at least this much, and realistically much more because some purchases are simply not made and we’re importing from other nations at prices higher than before the imposition of tariffs. Rearranging supply chains is very expensive.