u.s. / China Trade War Latest

September 18, 2018
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Trade Faceoff Heats Up

Handbags, fish sticks, blow torches and copper – just a few items on the list of Chinese goods getting hit with a new tariff or tax.

The White House says Americans won’t feel the pinch; others say Christmas shopping just got more expensive.

What To Know

“Because it’s spread over thousands and thousands of products, nobody is actually going to notice it at the end of the day.”

Commerce Sec. Wilbur Ross responding to a question about how the new round of 10% tariffs on $200B of Chinese imports this week will impact the American consumer. If the White House doesn't see a change from China by January the tariff jumps to 25%.
"Every time this trade war escalates, the risk to U.S. consumers grows. With these latest tariffs, many hardworking Americans will soon wonder why their shopping bills are higher and their budgets feel stretched.”

Matthew Shay, President and CEO of the National Retail Federation. Other experts agree and say as Chinese imports cost more, these higher prices will start hitting consumers around the holidays.

Why Now?

  • America is China’s #1 customer; China is a HUGE market for American companies.
  • WH says China doesn’t trade fair: makes it difficult for U.S. biz to enter their market, requires companies to share research, & uses cyber espionage to steal our intellectual property.
  • China is retaliating withA tariffs on U.S. goods worth $60 billion.

This is the second round of tariffs the White House has levied on China to force a change in their trade policy. Currently, there are no talks scheduled between the two countries. U.S. has the strength of low unemployment & a record high stock market.

by Jenna Lee,