I stand corrected. However Trump is collecting new tariff revenue as America had low tariffs while foreign countries like the EU, South Korea, Japan and China practiced unfair trade by penalizing American products with high tariffs if not an outright ban on their entry.
When a product is imported, the importer of record pays the tariff.
Here’s how it works:
ChatGPT: Who actually pays the tariff?
The importer—usually a company in the destination country—must pay the tariff to that country’s customs agency before the goods are released.
This cost is often later passed on to consumers through higher prices, but legally the importer pays it.
Pogue Colonel: Then how about getting with the program? Why don’t you jump on the team and come on in for the big win?
The importer is a U.S. based company buying imported goods from a foreign country.
The objection of the foreign country is not that they are going to pay the tariff; they’re not. The objection of the foreign country is the impact on how many items less will be imported from them, due to the tariff. The reduced trade, sales to us, is their objection because they will be getting fewer sales from U.S. importers, because the increased price the importer will want, due to the tariff, will send U.S. companies buying less from U.S. importers.