President Donald Trump's tariffs with China could threaten recent economic growth and put American businesses at a competitive disadvantage, Sen. Pat Toomey, R-Pa., said on ABC's 'This Week' Sunday. 'We've got a great economy, but I do think that the uncertainty caused by
President Donald Trump's tariffs with China could threaten recent economic growth and put American businesses at a competitive disadvantage, Sen. Pat Toomey, R-Pa., said on ABC's"This Week" Sunday.
Toomey said that while he gives Trump credit for challenging China on some of its trade practices with the U.S., China has not meaningfully changed its behavior. And, because China continues to be a significant part of the American supply chain, tariffs hurt manufacturers at home."This Week" Co-Anchor Martha Raddatz spoke with Pennsylvania business owners earlier this week, who said they expect to charge higher prices on consumer goods because of the tariff hikes.
However, some consumers who Raddatz spoke with said they think the economy is doing well and will stand behind the president, even if it were to decline. Trump, in response to the criticisms, has maintained that tariffs are having"a devastating effect" on China and will force them to the negotiating table.Trump has repeatedly asserted it will be China, not American consumers, who will pay for these tariffs. But many U.S. companies said the latest round of import taxes, effective Sunday, means customers will likely see higher prices on goods.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GOP Sen. Rick Scott says laws to combat mass shootings should focus on mental illness'We've got to figure out how we get guns away from mentally ill people who want to harm others or themselves,' Scott said.
Read more »
Sen. Young Boosts Profile as Contrarian Foreign-Policy Voice Among GOPIn a party where regularly opposing the president often results in a primary challenge or early retirement, Republican Sen. Todd Young has made the risky decision to become a high-profile skeptic of Saudi Arabia, one of the administration’s key allies.
Read more »
Sen. Murphy: Trump antics seriously damaging US world standingSenator Chris Murphy talks with Rachel Maddow about how the rest of the world, including America's closest allies, are learning to work around the United States under Donald Trump, a loss of standing that may be impossible to recover.
Read more »
Mass shootings 'absolutely a homeland security threat': McAleenanActing Department of Homeland Security Secretary Kevin McAleenan and Sen. Pat Toomey responded to the mass shooting in Odessa, Texas, where 4 people were killed and 21 injured on ABC's 'This Week' Sunday.
Read more »
South Korea 2019 growth likely to miss lowered target: finance ministrySouth Korea's economic growth this year looks likely to miss the government...
Read more »
Truck Makers Apply the BrakesDaimler Trucks North America, Paccar, Volvo Trucks USA and Navistar International are logging sharply lower orders, as trade tensions and slower global growth depress freight volumes.
Read more »