Despite what U.S. President Donald Trump tweeted last month, the tariffs imposed by the U.S. on Chinese imports do not result in China paying one penny to the U.S. Treasury Department. Tariffs are an import tax that U.S. corporations pay and they decide whether to pass along the costs to consumers. For example, Apple imports cases and covers for the iPhone and iPad from China, and they are taxed at 25% once they hit U.S. soil. The company has decided to eat the tax on these accessories so that consumers don't pay any more for them.
But the next tier of products that ...
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