RE: Trade tariffs13 May 2019 05:38
Latest news trade war.
U.S. President Donald Trump's tariffs won't move heaven or earth, and they won't deal long-term results either. History shows China will not cry uncle and capitulate to his trade fight and bar-room economics.
The Trade Partnership and the National Retail Federation have sounded the alarms. They warn that the new levies paid by American consumers and companies – not China – would cost an average family of four 767 U.S. dollars per year. They forecast that "the tariffs would cut U.S. employment by 934,000 people and subtract roughly 0.4 percentage points from U.S. GDP."
China says it "deeply regrets" Trump's decision to ratchet up the tariffs but "will have to take necessary countermeasures." The world's top oilseed buyer could decide to further restrict purchases of U.S. agricultural products or take other steps. The impact of China's retaliatory tariffs levied will be even greater if Trump puts tariffs on all Chinese imports.
For all the appearance, if China follows through with tariff exchanges to keep tensions simmering on this geopolitical chessboard, everybody is going to lose with no way around it. American farmers will suffer greater financial losses, and given an already struggling global economy, no one would be able to purchase their crops.
By the way this reads above we are far from any agreement.