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<blockquote data-quote="Box Ox" data-source="post: 4093952" data-attributes="member: 48469"><p>The Democrats would be wise to call China tariffs the "Trump Tax" and explain it to the American public as often as it can through Presidential election season.</p><p></p><p><a href="https://www.taxpolicycenter.org/taxvox/what-tariff-and-who-pays-it" target="_blank">What Is A Tariff And Who Pays It?</a></p><p></p><p>"A tariff is a tax on imported goods. Despite what the President says, it is almost always paid directly by the importer (usually a domestic firm), and never by the exporting country. Thus, if the US imposes a tariff on Chinese televisions, the duty is paid to the US Customs and Border Protection Service at the border by a US broker representing a US importer, say, Costco.</p><p></p><p>The Chinese government pays nothing, just as the US government pays no tax to Canada for that nation’s tariffs on imported dairy products. Rather, an importer or supplier for a Canadian supermarket pays the duty on Wisconsin cheese that lands in the grocer’s dairy counter (though I suspect few Canadian retailers are selling much US cheese these days, given the recent unpleasantness between the two countries)."</p></blockquote><p></p>
[QUOTE="Box Ox, post: 4093952, member: 48469"] The Democrats would be wise to call China tariffs the "Trump Tax" and explain it to the American public as often as it can through Presidential election season. [URL='https://www.taxpolicycenter.org/taxvox/what-tariff-and-who-pays-it']What Is A Tariff And Who Pays It?[/URL] "A tariff is a tax on imported goods. Despite what the President says, it is almost always paid directly by the importer (usually a domestic firm), and never by the exporting country. Thus, if the US imposes a tariff on Chinese televisions, the duty is paid to the US Customs and Border Protection Service at the border by a US broker representing a US importer, say, Costco. The Chinese government pays nothing, just as the US government pays no tax to Canada for that nation’s tariffs on imported dairy products. Rather, an importer or supplier for a Canadian supermarket pays the duty on Wisconsin cheese that lands in the grocer’s dairy counter (though I suspect few Canadian retailers are selling much US cheese these days, given the recent unpleasantness between the two countries)." [/QUOTE]
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