U.S. Commerce Secretary Howard Lutnick said that foreign governments have been bearing the brunt of U.S. tariffs over 15 percent, with China paying the lion’s share.
“China is paying an average tariff of 52 percent. But the government of China is eating most of it. So while that’s a high average when you count in China, the government of China is covering most of that cost,” Lutnick said on CNBC’s “Squawk on the Street” on Sept. 11.
Lutnick said that most countries aren’t facing tariffs above 15 percent and that when they do, the foreign governments step in to keep their businesses afloat while they negotiate better terms….
Lutnick: Beijing ‘Eating’ Majority of China’s 52 Percent Average Tariffs
