Saturday, July 07, 2018

Trade War Against China Is Officially Underway

From the New York Times:

A trade war between the world’s two largest economies officially began on Friday morning as the Trump administration followed through with its threat to impose tariffs on $34 billion worth of Chinese products, a significant escalation of a fight that could hurt companies and consumers in both the United States and China.

But the trade measures come at a cost for American firms, which are facing potentially devastating disruptions to their businesses.

Economists say [the] trade war will raise costs for American industry, potentially threatening the manufacturing jobs that [he] has long said he wants to protect. And some of those higher costs will ultimately work their way through the supply chain to American consumers.

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