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来源类型Working Paper
规范类型报告
DOI10.3386/w26396
来源IDWorking Paper 26396
Tariff Passthrough at the Border and at the Store: Evidence from US Trade Policy
Alberto Cavallo; Gita Gopinath; Brent Neiman; Jenny Tang
发表日期2019-10-28
出版年2019
语种英语
摘要We use micro data collected at the border and at retailers to characterize the effects of recent changes in US trade policy -- particularly the tariffs placed on imports from China -- on importers, consumers, and exporters. We start by documenting that the tariffs were almost fully passed through to total prices paid by importers, suggesting that incidence has fallen largely on the United States. Since we estimate the response of prices to exchange rates to be far more muted, the recent depreciation of China’s renminbi is unlikely to alter this conclusion. Next, using product-level data from several large retailers, we demonstrate that the tariffs’ impact on retail prices is more mixed. Some affected product categories have seen sharp price increases, but the difference between affected and unaffected products is generally quite modest, suggesting that retail margins have fallen. These retailers' imports increased after the initial announcement of possible tariffs, but before their full implementation, so the intermediate passthrough of tariffs to their prices may not persist. Finally, in contrast to the case of foreign exporters facing US tariffs, we show that US exporters lowered their prices on goods subjected to foreign retaliatory tariffs compared to exports of non-targeted goods.
主题International Economics ; Trade ; International Macroeconomics
URLhttps://www.nber.org/papers/w26396
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/584070
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Alberto Cavallo,Gita Gopinath,Brent Neiman,et al. Tariff Passthrough at the Border and at the Store: Evidence from US Trade Policy. 2019.
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