Trade war cost Americans additional $46 billion

New data released by Tariffs Hurt the Heartland shows the steep price consumers, businesses and farmers are paying because of the trade war. Overall, Americans have paid an additional $46 billion since the trade war began in February 2018 through November 2019.

In November alone, Americans paid a total of $6.2 billion in tariffs, compared to about $2.8 billion in November of 2017, before the start of the trade war. This significant increase in tariffs paid by Americans is primarily driven by tariffs implemented by the Trump administration, which account for more than $3.5 billion of the total in November.

The data also shows the devastating impact of retaliatory tariffs on American exports. Chinese tariffs on American exports exceeded $13 billion since the start of the trade war and reached nearly $1.6 billion in November alone. These tariffs have focused heavily on American farm exports. The November data shows exports to China that are subject to retaliatory tariffs are $24 billion below their 2017 levels - a 26 percent decrease.

The data is part of a monthly Tariff Tracker that Tariffs Hurt the Heartland, a campaign supported by more than 150 business and agricultural trade associations, has launched in conjunction with The Trade Partnership, which compiles monthly data released by the U.S. government. The monthly import data is calculated using data from the U.S. Census Bureau, while the monthly export data is compiled using data from the Census Bureau and the USDA.