The U.S. and China are feeling the effects of more tariffs resulting from Trump’s trade war.
The U.S. Government this week imposed 15% tariffs on Chinese goods including clothing, tools and electronics, resulting in China lodging a complaint with the World Trade Organization and retaliating with levies that hits imports of U.S. soybeans, crude oil and pharmaceuticals.
This has hurt confidence among U.S. small businesses and export-oriented factories in Europe, The Wall Street Journal reports.
“We can only say who is going to lose more in this situation…”
“Parents suffering sticker shock on back-to-school spending this fall better brace themselves — the latest round of Chinese tariffs are likely to make next year’s shopping spree even more expensive.”
The trade war will cost you, it’s just a matter of how much.
“It will disproportionately effect the middle and lower income classes and will be more and more on items people can’t put off buying. Great charts in the article.” – Ariel Serber
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