“In the tariff war initiated by US President Donald Trump, there are no winners—Americans are the first to suffer,” says Scott Lucas, professor at the Clinton Institute of University College Dublin.
Lucas explains that the tariff is essentially a surcharge on American importers. Faced with this extra cost, importers must choose between absorbing it—reducing their own profits—or passing it on to American manufacturers, consumers and farmers.
By shifting the burden along the supply chain, the tariff contest ends up impacting businesses and households across the country, proving that in this battle, nobody truly wins.
Reference(s):
cgtn.com
