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Photo: Cheriss May/NurPhoto via Getty Images

About three-quarters of the burden of President Trump’s tariffs imposed on $250 billion worth of Chinese goods will fall on Chinese exporters while U.S. consumers and companies will only see an average 4.5% price increase on the affected goods, according to a new analysis by EconPol Europe.

Why it matters: The paper indicates that Trump's trade war against China might be working, in that some calibrations indicate the bilateral trade deficit between the U.S. and China may fall by 17% and Trump's efforts could reduce American imports of certain Chinese goods.

Editor's note: This piece was clarified to add further information from the brief and to show more clearly how the tariff burden may be distributed.

Go deeper

Ben Geman, author of Generate
27 mins ago - Energy & Environment

IEA analysis charts "narrow" pathway to Paris climate goal

Photovoltaic solar panels at the power plant in La Colle des Mees, Alpes de Haute Provence, southeastern France. Photo: Gerard Julien/AFP via Getty Images

The pathway for transforming global energy systems to reach net-zero emissions by 2050 is "narrow but still achievable" and demands unprecedented acceleration away from fossil fuels, an International Energy Agency report published Tuesday concludes.

Why it matters: It provides detailed analysis and estimates of what's needed for a good shot at limiting temperature rise to 1.5°C above preindustrial levels — the Paris Agreement benchmark for avoiding some of the most damaging effects of climate change.

2 hours ago - World

In photos: Deadly Cyclone Tauktae leaves trail of destruction across India

A police officer helps a public transport driver cross a flooded street due to heavy rain caused by Tropical Cyclone Tauktae in Mumbai, India, on May 17. Photo: Ashish Vaishnav/SOPA Images/LightRocket via Getty Images

Tropical Cyclone Tauktae killed at least 16 people in India after making landfall in Gujarat Monday, packing 100mph winds, and sweeping across Kerala, Karnataka, Goa and Maharashtra, per Reuters.

The big picture: The storm unleashed heavy rains and winds as authorities continued to grapple with surging infection rates and deaths from COVID-19. Over 200,000 people were evacuated from Gujarat, and ports, airports and vaccination centers shut in the state and Mumbai, Reuters reports. Tauktae weakened from a Category 3 storm into a "severe cyclonic storm" Tuesday morning local time.

5 hours ago - Politics & Policy

Scoop: Yellen wants business to help foot infrastructure bill

Treasury Secretary Janet Yellen. Photo: Alex Wong/Getty Images

Treasury Secretary Janet Yellen is heading into the belly of the beast Tuesday and asking the business community to support President Biden's $2.3 trillion infrastructure plan during a speech to the U.S. Chamber of Commerce.

Why it matters: By trying to persuade a skeptical and targeted audience, Yellen is signaling the president’s commitment to raising corporate taxes to pay for his plan. Republican senators, critical to a potential bipartisan deal, oppose any corporate tax increase.

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