Posted by 07 May 2019
President Trump is escalating his trade war with China, threatening to increase tariffs to 25% on thousands of that nation’s products.
The U.S. and China are in the midst of trade negotiations, but there have been disagreements over intellectual property and technology transfers. There have been some signals that a trade agreement could be reached by Friday. If it isn’t, then the president is saying he may react by a dramatic tariff hike.
The president’s proposal would affect nearly 6,000 products. These are used by consumers and businesses in the U.S., which would face higher prices for the imported goods. Economists worry that such a large and sudden spike in tariffs would disrupt the U.S. economy and cost jobs. The president says that is necessary to combat unfair trade practices from China.
Both before and after his election as president, Donald Trump has complained about the U.S. trade deficit and what he perceives as unfair trade deals. He has used his time as president to push for renegotiation of trade deals and impose news tariffs. Economists say that free trade, not restrictions such as those supported by the president, lead to job creation and economic growth. The president, however, sees the trade deficit as a bigger threat.
Do you support higher tariffs on Chinese goods? Will higher tariffs hurt American consumers and workers?