Assessment non-profit organization National Foundation for American Policy (NFAP), in 2020 because of the actions of customs duties that each household will have to spend on consumer goods to an average of 2,031 USD.
Expenditures in 2019, which could have been avoided while maintaining the previously existing rules of international trade will be slightly smaller — 1315 dollars, but their total amount would be very impressive — 259,2 billion.
As experts believe, thus will be negated the positive effect that has the efforts of the White house on deregulation. Furthermore, the prediction for 2020, the additional costs were higher than previously thought. In particular, in may of Federal Bank of new York believed that they will be only 831 dollar per household, and in J. P. Morgan, in consideration of the duties, which came into force from September 1, increased this figure up to 1 thousand.
Now NFAP come more from the fact that the rate, which will impact on rates in 2020 will be increased at least twice, October 1 and December 15.
If we consider the cumulative effect of all duties that began during the reign of Donald trump and those that he still threatens, the household expenditure will increase to an average of 3614 dollars a year, and they sum — up to 461,1 billion.
The increase of duties which, in fact, are, from the point of view of consumers, cost of sale, have led to the fact that the effectiveness of the measures on deregulation decreased by 29% and will continue to decline. In General, according to NFAP Executive Director Stuart Anderson, a similar trade barriers are equally harmful to the economy, as well as other methods of state control, and may have even more negative impact.