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A tariff is as tax on consumers

The study said there should be no confusion as to what the result of these tariffs will be and to whom the 850 dollars lost to American households by U.S. tariffs against China would be paid.

A tariff is simply a tax. It is not paid by the producers -- they generally receive the same price for their product to which the tariff is added. The higher price after the tariff is paid by the consumer -- with the revenue from the tariff being paid to the government.

In other words, the threat of tariffs against China are a threat of an 850 dollars a year tax on every American household.

It added President Trump says he is in favour of low taxes but with tariffs against China he is in fact putting a tax on purchases which U.S. families will pay.

That is why every U.S. household faces that simple choice. Think what it could do with 850 dollars? It could buy a new smartphone, it could take a weekend away, it could buy new furniture or electrical goods. Or it could give 850 dollars to the tax collector. It doesn’t seem a very difficult choice?

U.S. wages and prices

The study said the situation is worse because U.S. prices are already rising. The latest available U.S. figure for the rise in "core inflation", for July, that is for consumer prices rises excluding food and fuel costs, was 2.4 percent -- the highest for 10 years.

More seriously still total consumer price inflation, which is what U.S. families actually pay, rose by 2.9 percent in the same month. But U.S. hourly wages in the same month only rose by 2.7 percent.

Therefore, due to price rises, U.S. real inflation adjusted wages were falling.

Indeed, this is the 3rd month in a row in which U.S. real wages have fallen due to inflation. In that situation the last thing that U.S. families need is tariffs creating still higher prices.