Much of the agricultural side of our economy is going to be affected by the tariffs that Trump is putting in place. As he puts more tariffs in place china is putting some tariffs of its own into play as well to in reaction to Trump. These tariffs will be on pork fruit and nuts. The U.S is also the second largest importer of these good just under Canada. This will have a huge impact on domestic agriculture and it will definitely not be a positive affect on the U.S economy. However, just how negative these tariffs will affect the U.S is still to be seen.
https://www.wsj.com/articles/for-u-s-farmers-china-tariffs-timing-is-harsh-1521979200
5 comments:
The tariffs that Trump is placing will definitely hurt the agricultural side of the economy. It is interesting to why China putting more tariffs because of Trump's actions. I believe that these tariffs won't be a huge negative impact though.
I wonder what the long-term effects of the tariffs will be on both domestic and international firms. As China begins to retaliate, we could see more tariffs come our way. It will be interesting to see what other countries do in retaliation to the tariffs set forth by Trump. My hope is that nothing to serious comes out of it, because, open trade is beneficial for economies and consumers.
I worty that a tatiff war could set back America's economy greatly. History has shown that protectionism doesn't work. I'm interested to see what the final results of these tariffs will be or lead to.
It would be interesting to see how tariffs would impact the US economy in the long run since as mentioned in the article, the US is the second largest importer of pork fruits and nuts. This would mainly affect those consumers who consume such goods.
The tariffs that are helping the aluminum and steel industries in the US are going to bring more problems than the country originally had. There are many industries that will end up affected and at the end, these decisions might harm the economy more than it is helping it. We have seen how Trump is already using its tariffs as bargaining power in negotiations, like with South Korea, but the tariffs that the Chinese and others impose will be just as powerful. This trade war seems like its going to be long and many industries will be affected, but its just starting.
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