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The Consumer Cost Burden
Who really pays for these tariffs?
According to Prasad, its likely to be American consumers.
Studies suggest that the last round of China tariffs were mostly passed on to consumers, he explained.
While some U.S. producers and workers may benefit, costs are largely borne by U.S. consumers.
He pointed to electric vehicles as an example where American consumers end up paying more.
The Global Trade Ripple Effect
Prasad emphasized that Trumps trade policies could have unintended consequences.
This will haveunintended strategic consequencesfor the United States.
If Mr. Trumpsnew tariff proposalswere implemented, they would probably do more damage [than Harris plans].
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