Tariff Time: America Will Soon Feel the Pain of the U.S.-China Trade War

Tariff Time: America Will Soon Feel the Pain of the U.S.-China Trade WarThe long U.S.-China trade war is about to hit another mile marker.New tariffs, announced in May on $200 billion worth of imports from China, and $60 billion worth of exports to China, go into effect June 1.Tariffs are a tax on American consumers and businesses, and the administration has already begun a process to increase tariffs even more.The U.S.-China trade war persists in American headlines. It’s clear that the punitive tariffs imposed by the Trump administration have far-reaching implications for a host of U.S. sectors—from retail to farming—while changing little of China’s economic practices.The American people have yet to hear clear economic reasoning from the administration regarding the continued hikes in tariffs, other than the fact that negotiations with China are difficult.  Americans deserve a real, economic justification from the White House for the continued increase in tariffs. Congress also has an important role to play in helping Americans understand the implications of the ongoing trade war.




from Yahoo News - Latest News & Headlines https://yhoo.it/2QNe93M
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