Who’s Paying for the US Tariffs? A Longer-Term Perspective

Author:

Amiti Mary1,Redding Stephen J.2,Weinstein David E.3

Affiliation:

1. Federal Reserve Bank of New York and CEPR (email: )

2. Department of Economics and Woodrow Wilson School of Public and International Affairs, Princeton University, and NBER (email: )

3. Department of Economics, Columbia University, and NBER (email: )

Abstract

Using another year of data including significant escalations in the trade war, we find that the costs of the US tariffs continue to be almost entirely borne by US firms and consumers. We show that the response of import values to the tariffs increases in absolute magnitude over time, consistent with the idea that it takes time for firms to reorganize supply chains. We find heterogeneity in the responses of some sectors, such as steel, where tariffs have caused foreign exporters to drop their prices substantially, enabling them to export relatively more than in sectors where tariff pass-through was complete.

Publisher

American Economic Association

Cited by 49 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

1. Trade wars and industrial policy competitions: Understanding the US-China economic conflicts;Journal of Monetary Economics;2024-01

2. Trade Policy and Global Sourcing: An Efficiency Rationale for Tariff Escalation;Journal of Political Economy Macroeconomics;2023-12-05

3. How do firms adjust when trade stops?;Journal of Economic Behavior & Organization;2023-12

4. Mean and volatility spillover in Asian economies: Evidence from trade war;PLOS ONE;2023-11-09

5. Tariff rates in gravity;The Journal of International Trade & Economic Development;2023-11-05

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