China Plans to hit US with Tariffs following Trump Trade Sanctions
Source: CNN
Blog Post #5
Summary: China puts tariffs on over 128 US products, after Trump decided to put tariffs over $50 billion worth of Chinese goods. Trump has accused China for violating US intellectual property rights by stealing trade secrets in return for access to markets in China. Trump also said he would also take this issue to the World Trade Organization. "China does not want a trade war, but China is not afraid of a trade war. We are confident in our capability to face up to any challenge," the Commerce Ministry in China said.
Analysis: If something like this continues to go on and a trade war does start, it isn't going to end well. Not only did the last trade war (The Harley Smoot Tariff and the response to it by foreign countries.) lead to a huge disaster to the US economy, we started it by raising tariffs on foreign goods. However, we are now putting these tariffs on China, one of the most fastest and still growing economies of the world that make almost all of the goods nowadays. Trump has also issued tariffs to other countries such as some of those we are allied with in the EU. I don't quite know how to feel about this. I am pretty certain this is just another bluff by Trump, however, if it isn't...
well thats a problem.
Article Link: http://money.cnn.com/2018/03/22/news/economy/china-plans-to-hit-us-with-tariffs/index.html
Image Link: http://tritiyomatra.com/Media/NewsImages/tm-news-cbee4bd4-db6c-47d5-9798-50c79cd3878d.jpg
Blog by: Brandon Min
6th Period
4/2/18
Blog Post #5
No comments:
Post a Comment