Trump's 10% raised tariffs on Chinese goods are a bold move; however, I'm skeptical about it because the market is already responding in the negative, and that means higher prices for American consumers.
The markets are responding correctly. They’re going to as it’s a trade war that’s going to effects the market for a while.
Canada also hit the United States with retaliatory tariffs.
This is not only going on with China.
Canada’s announcement comes even though a détente was reached Tuesday over the threat of a 25% surcharge on U.S. electricity consumers.
www.nbcnews.com
The first shots of President Donald Trump’s global trade war have been fired.
Canada on Wednesday announced new retaliatorytrade duties on some $21 billion worth of U.S. goods, a response to Trumpimplementing universal steel and aluminum tariffs.
Canada’s retaliatory measures follow ones announced Wednesday by the European Union targeting a range of U.S. goods worth $28 billion, including beef, motorcycles and whiskey alongside American-made steel and aluminum. China, too, signaled it was readying.
China also hit the United States with retaliatory tariffs.
Here are the products subject to China's retaliatory tariffs, and how U.S. farmers are reacting to Trump's trade policy.
www.cbsnews.com
China's retaliatory tariffs went into effect Monday, spelling trouble for American farmers by making U.S.-grown crops more expensive for their top purchaser.
Beijing imposed the levies in response to President Trump's extra 10% blanket tariff on Chinese goods . Under China's retaliatory action, U.S. farmers now face levies of 15% on chicken, wheat and corn, and 10% on soybeans, pork, beef and fruit.
China is the largest market for such products, and if prices of foreign-grown goods rise in China, locals will turn to less expensive alternatives either from China or other countries. American farmers that deal in chicken and more will likely lose market share as a result.
"If prices go up, folks won't eat imported stuff," a fruit seller, surnamed Shi, told Agence France-Presse. "There will be more domestic goods sold, and I think this is something folks can accept."
Shi told the agency that if U.S. produce prices rise, he might seek out replacement fruit and vegetables from Thailand and Malaysia.
Goods that shipped before Monday and arrive in China before April 12 will not be subject to the new tariffs.
This trade war won’t be good for the consumers(like us) at all for a while. We’ll pay paying more for various products from electronics, foods, and more.
www.bbc.com
