October was the highest tariffed month in U.S. history. U.S. businesses paid $6.2 billion in tariffs that month, including $2.8 billion in new tariffs on products targeted by the Trump Administration according to Tariffs Hurt the Heartland.
According to its spokesperson former Congressman Charles Boustany, U.S. imports subject to new tariffs declined 0.6 percent in October while exports fell 37 percent. He says U.S. businesses are still importing goods while exports are falling under retaliatory tariffs.
“Americans are paying these taxes and they’re paying more than ever before. These tariffs are not making our country wealthier, they are doing the exact opposite." Boustany says, "All that’s happening is businesses and consumers are paying more, American exports subject to retaliation are rapidly declining, and the deficit the Administration cares so much about is ballooning”
He adds those numbers are even more prominent with China specifically.
Tariffs Hurt the Heartland is a nationwide, non-partisan campaign opposing tariffs that is supported by more than 150 trade associations.