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The Impact of Import Tariffs on U.S. Domestic Prices

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Abstract

The United States imposed new import tariffs on about $283 billion of U.S. imports in 2018, with rates ranging between 10 percent and 50 percent. In this post, we estimate the effect of these tariffs on the prices paid by U.S. producers and consumers. We find that the higher import tariffs had immediate impacts on U.S. domestic prices. Our results suggest that the aggregate consumer price index (CPI) is 0.3 percent higher than it would have been without the tariffs.

Suggested Citation

  • Mary Amiti & Sebastian Heise & Noah Kwicklis, 2019. "The Impact of Import Tariffs on U.S. Domestic Prices," Liberty Street Economics 20190104, Federal Reserve Bank of New York.
  • Handle: RePEc:fip:fednls:87300
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    File URL: https://libertystreeteconomics.newyorkfed.org/2019/01/the-impact-of-import-tariffs-on-us-domestic-prices.html
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    Cited by:

    1. Mary Amiti & Stephen J. Redding & David E. Weinstein, 2019. "The Impact of the 2018 Tariffs on Prices and Welfare," Journal of Economic Perspectives, American Economic Association, vol. 33(4), pages 187-210, Fall.

    More about this item

    Keywords

    prices; tariffs; imports;
    All these keywords.

    JEL classification:

    • F00 - International Economics - - General - - - General

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