Trade, Tariffs, and Soybeans
Trump has consistently claimed that exporters, those countries who are “ripping us off,” are paying the tariffs. However, the actual data tell a different story.
Another "green shoot" that has brown splotches all over it: the latest report of higher consumer spending for June appears to be the result of higher prices for basic goods like food and energy, rather than any newfound desire of consumers to part with their dwindling stash of greenbacks.
From the NYTimes:
Higher Costs Spur Rise in U.S. Consumer Spending