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US-China Trade War Fallout

Sep 19 , 2018
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The escalating trade war has raised important concerns for the U.S. and China to negotiate including jobs, deficit, and growth. The U.S. Chamber of Commerce says on its website “Trade Works. Tariffs Don’t.” It predicts that the tariffs will cause “extremely significant damage” to conservative-leaning states: Idaho, South Dakota, Alaska, Louisiana, Alabama, and South Carolina. 3M is bracing itself for a 10 million dollar hit. Harley-Davidson is earmarking extra costs this year of up to 20 million dollars. General Electric is anticipating up to 400 million dollars in raised costs. Nor will the damage be limited to the U.S. Christine Lagarde of IMF compares the outlook for the global economy to “clouds on the horizon getting darker by the day.”

 
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