Here we go!
It is not over and promises to get worse……
The trade war has started……Trump’s admin has placed tariffs on China and our European friends…..and a new round has been put into place against China….
The US-China trade war is here—and it’s escalating rapidly. US authorities rolled out a list Tuesday of some $200 billion in Chinese goods that could be hit with 10% tariffs by September, Deutsche Welle reports. The list of more than 6,000 product lines includes food products and many consumer goods, raising fears that the escalation could raise prices significantly for American shoppers, the Wall Street Journal reports. China hit back with its own tariffs on $34 billion in American goods after the US brought in tariffs on the same amount of Chinese goods last week, and Beijing has signalled that it will continue raising tariffs dollar for dollar. No talks are scheduled to resolve the dispute, which the US side blames on unfair Chinese practices.
The latest US tariffs were condemned by Senate Finance Committee Chairman Orrin Hatch, among others, who called the move “reckless.” China Ministry of Commerce said it was shocked by the escalation, the South China Morning Post reports. “China is shocked by the US move and the Chinese government, as always, will have to react to defend the core interests of our nation and people,” the ministry said. Li Chenggang, assistant minister of commerce, likened the US to a “bull in a China shop” and said tit-for-tat tariffs would “inevitably destroy” US-China trade.
The predictions are that these tariffs will now effect every room of one’s house from the windows and doors to kitchen to bath room….so many household things are made in China and now it will be expensive…..
Something to think about……the attacks on China by Trump could be behind the NK flipping on the “deal” that was supposedly struck in Singapore.
Just a thought.