U.S. Congressional Research Service Issues Report on Effect of Increased U.S. Tariffs

The U.S. Congressional Research Services (CRS) has issued a brief report on Escalating U.S. Tariffs: Affected Trade. The findings of the report are predominantly negative and include the following:

The Effects of Increased U.S. Tariffs

As tariffs act as a tax on foreign-produced goods, they distort price signals, potentially leading to less efficient consumption and production patterns, which may ultimately reduce U.S. and global economic growth rates. As of August 29, 2019, the United St…