Xinhua: U.S. obsession with trade war costs Americans more
Xinhua |
Updated: 2018-06-25 14:42
After the Trump administration threatened to slap additional tariffs on goods from U.S. major trading partners, grievances have been aired on its home turf.
Manufacturers in the Rust Belt fear additional tariffs would antagonize their long-standing trade partners, leading to a decrease in exports. Soybean farmers throughout the Midwest are nervously watching how China, which buys a quarter of American soybeans, will respond in kind.
Traditional steel and aluminum manufacturers in the Great Lake states may benefit from the administration's 25-percent tariff on foreign steel, but for those who use the metal, it is an entirely different story. Metal users are paying higher prices. It is no strange that beverage producers fret about the impending price rises of aluminum cans, which will be passed on to consumers.
READ MORE
After the Trump administration threatened to slap additional tariffs on goods from U.S. major trading partners, grievances have been aired on its home turf.
Manufacturers in the Rust Belt fear additional tariffs would antagonize their long-standing trade partners, leading to a decrease in exports. Soybean farmers throughout the Midwest are nervously watching how China, which buys a quarter of American soybeans, will respond in kind.
Traditional steel and aluminum manufacturers in the Great Lake states may benefit from the administration's 25-percent tariff on foreign steel, but for those who use the metal, it is an entirely different story. Metal users are paying higher prices. It is no strange that beverage producers fret about the impending price rises of aluminum cans, which will be passed on to consumers.
READ MORE
