By CRYSTAL CHEN
LANSING — The trade war between the world’s two largest economies has lasted for nearly one year and has already affected U.S industries and consumers, especially buyers and sellers of two items important in Michigan — soybeans and auto parts. Economists have long argued that tariffs come with real income losses. A newly published research article from the Centre for Economic Policy Research, a research network based in London, found that by the end of 2018, import tariffs were costing U.S. consumers and companies that import goods an extra $3 billion per month in added tax costs and an additional $1.4 billion per month in reduction in real income. “Everything affects everything, and everything is related to everything,” said Erkan Kocas, an international trade specialist at the Michigan State University International Business Center. Kocas said that an individual’s income and needs don’t change in spite of tariffs.