US President Donald Trump could meet Chinese counterpart Xi Jinping at the G20 summit in Japan in June. Photo: EPA
US President Donald Trump could meet Chinese counterpart Xi Jinping at the G20 summit in Japan in June. Photo: EPA

Consumers are ‘unequivocally the losers’ in US-China trade war, says IMF

  • Research from the International Monetary Fund finds that US importers ‘almost entirely’ bear the cost of tariffs, which are then passed on to the consumer
  • Latest round of tariffs contains goods which are not easily substituted by imports from other markets, which analysts say will further hit consumers

US President Donald Trump could meet Chinese counterpart Xi Jinping at the G20 summit in Japan in June. Photo: EPA
US President Donald Trump could meet Chinese counterpart Xi Jinping at the G20 summit in Japan in June. Photo: EPA
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