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IMF says U.S. companies are paying China tariff costs Updated: 2019-05-24 12:58:29 KST

The IMF says the cost of the Trump administration's tariffs on China are being paid by American companies, making consumers in both countries the "losers" of the trade war.
The IMF's chief economist Gita Gopinath( ) said in a blog post Thursday,. that (quote) "tariff revenue collected has been borne almost entirely by U.S. importers."
The tariffs passed on to American consumers include those on items like washing machines, while others have been absorbed by the profit margins of importers.
She also warned that an all-out trade war will cut global GDP by a third of a percentage point.
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