That represents a $2.4 billion increase from what businesses paid the same month last year, despite a 31% decline, or $7.5 billion, in imports.
The figures compiled from U.S. Census Bureau data capture the first month after the escalation of tariffs from 10% to 25% on $200 billion worth of Chinese goods.
The figures compiled from U.S. Census Bureau data capture the first month after the escalation of tariffs from 10% to 25% on $200 billion worth of Chinese goods. And more on the way, as Trump has announced a 10% tariff on an additional $300 billion in Chinese imports.
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