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US companies forked over a record amount of tariffs in October because of Trump's trade war

3 days ago   |   By Business Insider

Jonathan Ernst/Reuters
US companies are paying more than ever before in tariff duties: $6.2 billion in October.
The October tariff collections represented a 104% jump from October 2017.
The sudden spike came due to President Donald Trump's tariffs on steel, aluminum, and Chinese goods.
US companies paid $2.2 billion more to import goods subject to Trump's tariffs in October.
The costs are causing major disruptions for American firms, including investment delays and layoffs.
The cost of President Donald Trump's trade war is starting to pile up.
Trump has cheered billions "pouring into the...
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