U.S. consumers could start seeing price hikes on a wide variety of goods made in China after the United States began collecting a 10% tariff Tuesday on all…
While the 10% tariff is smaller than what Trump has threatened before, investors and industry analysts expect a ripple effect across industries that rely on Chinese manufacturing.U.S.
“This is a movie we’ve seen before, and it doesn’t bring jobs back to the U.S., and it does raise costs, so it’s a challenge for us to see the end game or the point,” Priest said. “We do want to work with the administration to tamp down inflation — that was the president’s mandate, and we agree with it — but this is not the way to go about doing that.”
But China’s moves were more limited in scope than some companies had feared: They apply to around 14% of U.S. exports to China, while Trump’s tariffs apply to all goods sold in the United States from China. On the campaign trail, Trump made tariffs central to his plan to revive the U.S. economy, arguing that putting significant duties on imports would encourage companies to move their manufacturing plants to the United States and protect industries from cheaper overseas competition. Trump has also proposed using revenue from tariffs to pay for other policy priorities.
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