US companies forked over a record amount of tariffs in October ($6.2 billion!) because of Trump’s trade war

donald trumpJonathan Ernst/Reuters

  • US companies are paying more than ever before in tariff duties: $ 6.2 billion in October.
  • The October tariff collections represented a 104% jump from October 2017.
  • The sudden spike came due to President Donald Trump’s tariffs on steel, aluminum, and Chinese goods.
  • US companies paid $ 2.2 billion more to import goods subject to Trump’s tariffs in October.
  • The costs are causing major disruptions for American firms, including investment delays and layoffs.

The cost of President Donald Trump’s trade war is starting to pile up.

Trump has cheered billions “pouring into the coffers of the USA,” but new data shows companies’ costs starting to reach new records:

See the rest of the story at Business Insider

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Post Author: martin

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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