On July 6th Trump imposed 25 percent tariffs on $34 billion worth of Chinese imports, for which they quickly returned the favor. An extended trade war will harm U.S. exporters, increase prices for American consumers, stall our economic growth and eliminate hundreds of thousands of jobs. Our manufacturers depend on a global supply-chain and once we lose markets, we might not win them back soon. U.S. – China trade has grown exponentially since 1979, becoming our largest trading partner. Approximately “40 percent of Chinese exports to America are produced in China by American companies”, the revenues of which are counted in their trade surplus, which is somewhat misleading. Americans own businesses worldwide, in Canada and Mexico, our 2nd & 3rd largest trading partners, who are now imposing import duties on steel and aluminum. They all import agricultural products from U.S. We could lose some long-standing markets to competitors. Russia exports aluminum, oil, soybeans, and spies.
Trish Forsyth Voss
Aug 2 2018
Will President Trump’s trade war with China, Mexico, Canada and others prove beneficial to U.S?
On July 6th Trump imposed 25 percent tariffs on $34 billion worth of Chinese imports, for which they quickly returned the favor. An extended trade war will harm U.S. exporters, increase prices for American consumers, stall our economic growth and eliminate hundreds of thousands of jobs. Our manufacturers depend on a global supply-chain and once we lose markets, we might not win them back soon. U.S. – China trade has grown exponentially since 1979, becoming our largest trading partner. Approximately “40 percent of Chinese exports to America are produced in China by American companies”, the revenues of which are counted in their trade surplus, which is somewhat misleading. Americans own businesses worldwide, in Canada and Mexico, our 2nd & 3rd largest trading partners, who are now imposing import duties on steel and aluminum. They all import agricultural products from U.S. We could lose some long-standing markets to competitors. Russia exports aluminum, oil, soybeans, and spies.
Trish Forsyth Voss
By spiritspeak • Community Roundtable 0