Tariffs Are Taxes: Trade War Making Thousands of Products More Expensive

Trade barriers such as tariffs have been demonstrated to cause more economic harm than benefit.  They raise prices and reduce availability of goods and services resulting in lower income, reduced employment, and lower economic output.  

Rather than erect barriers to trade that will have negative economic consequences, policymakers should promote free trade and the economic benefits it brings.

China on Friday [July 6, 2018] accused the United States of starting "the biggest trade war in economic history" as the two sides imposed steep new tariffs on tens of billions of dollars of each other's exports.  The cost of the new tariffs can be found in the roughly 1,300 individual products that have suddenly become more expensive.

Poultry 
— Frozen beef 
— Fresh or cold pork 
— Dried, smoked or salted pork belly 
— Frozen chicken nuggets 
— Frozen whole duck

Fruit and vegetables 
— Farming potatoes 
— Mushrooms 
— Truffles 
— Apples 
— Cherries 
— Avocados

The Trump administration has enacted tariffs on imported solar panels, washing machines, steel, and aluminum, thousands of Chinese imports, and is investigating for automobile imports.  Here's more goods with higher prices suddenly:

Dairy products 
— Butter 
— Cream 
— Yogurt

Fish 
— Frozen red salmon 
— Frozen mackerel 
— Frozen yellowfin tuna

Seafood 
— Frozen squid 
— Lobster 
— Canned shark fin 
— Octopus 
— Sea urchins

Widespread reduction in trade barriers since World War II has contributed to economic prosperity in many ways, including large increases in trade activity and accompanying gains in economic output and income.  Openness to trade and investment has substantially contributed to U.S. growth.

Pet food 

— Canned cat food 
— Canned dog food

Beverages 
— Whiskey 
— Modified ethanol 
— Non-frozen orange juice with less than 20% sugar

Vehicles 
— Some passenger cars 
— Some small passenger cars 
— Some off-road vehicles

— Some motor vehicles with diesel engines 
— Some motor vehicles with electric motors 
— Some motorcycles, including mopeds 
— Helicopters 
— Some airplanes and other powered aircraft 
— Airplane parts 
— Ferry boats and cruise ships

The effects of each tariff will be lower GDP, wages, and employment in the long run. The tariffs will also make the U.S. tax code less progressive because the increased tax burden would fall hardest on lower- and middle-income households.

Industrial machinery 
— Nuclear reactors 
— Chassis fitted with engines for some vehicles 
— Hydraulic turbines 
— Machines for sorting fruit or other agricultural produce 
— Metal-rolling mills 
— Molds for glass, rubber or plastics 
— Railway track fixtures 
— Electric welding apparatus

Medical devices 
— Pacemakers 
— X-ray generators 
— UV apparatus 
— Anesthetic instruments 
— Optical instruments

Other 
— Parts of equipment for checking semiconductor devices 
— Some microscopes and telescopes 
— Seismographs

Sources:

https://money.cnn.com/2018/07/06/news/economy/china-us-tariffs-list/index.html

https://money.cnn.com/2018/07/06/news/economy/us-china-trade-war-tariffs/index.html