Eagle Times Bulletin

  • 2017-2018 School year begins Monday, August 28, 2017

Trade Wars And Tariffs: A Solution?

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Trade deals, a major aspect of the Trump campaign during 2016 continues to draw attention to the threatening trade barriers place on China. China strives to do anything to prevent a trade war with the United States, but with fear arising in both of these countries, a  predicament brews.

The reason for imposing tariffs on China derives from the White House administration believing theft of intellectual property and the forced transfer of valuable goods occurs too often. In addition, many American companies conduct business with China because their inexpensive products.

Dates regarding the imposition of the tariffs on either country depends on the United States. However, China warns that a $50 billion tariff will produce a merciless retaliation.

Wall Street ends the week in a negative slope, 572 points below the bell ring. Trump suggests imposing extra trade tariffs on goods shipped to the U.S. from China. This causes tension between the two economic empires with the Chinese stating that they will seek retribution for the tariff implementation.

The United States resides on the list of “developed nations”, while officials within the United States government hold a mindset that the nation lacks the interest of the World Trade Organization. The World Trade Organization represents China, viewing it as a developing nation, receiving unjust advantages and perks, unlike the U.S..

The uneasy mood between the two countries continues to linger, as neither nation intends to yield. China states they will impose levies in opposition to Trump’s tariff plan if carried through.

Beijing, devising a plan to impose levies, received criticism from other countries stating them as an unfair and unjust retaliation.  Nevertheless, the retaliation occurs as a result of the U.S. tariffs on imported Chinese goods.

Without the surrender from the United States or China, economic uncertainty lingers. Beijing, addressing the consequences of imposing levies on the U.S., searches for many options to equalize this economic war, such as halting the purchase of U.S. bonds.

A trade war of this nature creates suspicion and mistrust because of the rise in consumer goods prices from tariffs. Inflation will soar, negatively affecting China’s economy as well as the United States’. Consumers will purchase less goods and will have to accept a lower standard of living.

Both the poor and working class shudder with the appearance of inflation, and these two groups soon dwindle to a lower social status  because of a diminished quality of life.  A sales decrease because of tariffs ultimately hurts both Chinese and American companies.

Tariffs- not the solution to the ongoing economic quandary!

 

 

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