ON NOVEMBER 27TH, FOREIGN MEDIA REPORTED THAT WHEN THE TRUMP ADMINISTRATION IMPOSED TARIFFS ON CHINESE GOODS IMPORTED TO THE UNITED STATES LAST YEAR, OFFICIALS WERE CONFIDENT THAT CHINA WOULD PAY FOR IT, MEANING THAT CHINESE COMPANIES WOULD HAVE TO LOWER PRICES TO ABSORB THE UP TO 25% IMPORT "TAX" THAT THEIR GOODS WOULD NEED TO PAY WHEN THEY ARRIVED AT US PORTS. HOWEVER, CONTRARY TO EXPECTATIONS, A RESEARCH REPORT RELEASED BY RESEARCHERS FROM THE NEW YORK FEDERAL RESERVE ON NOVEMBER 25TH SHOWED THAT THE PRICES OF CHINESE GOODS EXPORTED TO THE UNITED STATES HAVE REMAINED ALMOST UNCHANGED, WHICH MEANS THAT AMERICAN COMPANIES AND CONSUMERS ARE BEARING THE COST OF THESE TARIFFS, ESTIMATED TO BE ABOUT $40 BILLION (1 US DOLLAR IS ABOUT 7 YUAN) PER YEAR.REUTERS REPORTED ON NOVEMBER 25TH THAT THE US CUSTOMS AND BORDER PROTECTION HAS IMPOSED TARIFFS OF UP TO 25% ON CHINESE GOODS ENTERING THE UNITED STATES. IF CHINESE COMPANIES WERE TO ABSORB THESE COSTS, THEY WOULD HAVE TO LOWER PRICES BY UP TO 20%, ALLOWING AMERICAN RETAILERS, MANUFACTURERS, OR WHOLESALERS TO MAINTAIN THEIR PRICE AND PROFIT STABILITY. BUT THAT'S NOT THE CASE.ACCORDING TO REPORTS, A STUDY BY THE FEDERAL RESERVE FOUND THAT IMPORT DATA FROM JUNE 2018 TO SEPTEMBER 2019 SHOWED THAT THE PRICES OF CHINESE GOODS EXPORTED TO THE UNITED STATES ONLY DECREASED BY 2%, CONSISTENT WITH PRICE DECLINES IN MANY OTHER COUNTRIES CAUSED BY THE GLOBAL TRADE SLOWDOWN.THE SUSTAINED STABILITY OF PRICES FOR CHINESE GOODS EXPORTED TO THE UNITED STATES MEANS THAT AMERICAN COMPANIES AND CONSUMERS HAVE TO PAY FOR THESE TARIFFS, "WROTE THE NEW YORK FEDERAL RESERVE RESEARCH TEAM.ACCORDING TO THE REPORT, RESEARCHERS HAVE NOT MADE AN ESTIMATE ON HOW THESE COSTS WILL BE ALLOCATED BETWEEN DECLINING PROFITS OF US COMPANIES OR RISING CONSUMER PRICES.  THIS STUDY DID NOT INDICATE HOW MUCH THE MARKET SHARE OF AMERICAN SUPPLIERS MAY HAVE INCREASED, NOR DID IT INDICATE WHETHER THE PRICES OF GOODS IMPORTED FROM OTHER COUNTRIES TO THE UNITED STATES ARE HIGHER THAN THOSE OF CHINESE GOODS.