McRocket
Gold Member
- Apr 4, 2018
- 5,031
- 707
- 275
- Banned
- #1
'The lasting trade dispute between the United States and China is taking an unexpected toll on American businesses and consumers, a new study by the International Monetary Fund said Thursday.
The feud between Washington and Beijing has been going for more than a year and has been marked by periodic tariff penalties worth billions of dollars on imports and exports. The most recent, on May 10, imposed 25 percent tariffs on Chinese imports worth $200 billion a year. U.S. President Donald Trump has said the tariffs are punitive measures for multiple Chinese transgressions. The IMF analysis, however, said it appears Americans have been the ones punished the most so far.
"Trade tensions have negatively affected consumers as well as many producers in both countries," the organization wrote in the analysis Thursday. "The tariffs have reduced trade between the U.S. and China, but the bilateral trade deficit remains broadly unchanged.
"While the impact on global growth is relatively modest at this time, the latest escalation could significantly dent business and financial market sentiment, disrupt global supply chains, and jeopardize the projected recovery in global growth in 2019."'
IMF study: U.S. tariffs on China hurting Americans most
Interesting.
Hardly surprising to me...but still interesting.
The feud between Washington and Beijing has been going for more than a year and has been marked by periodic tariff penalties worth billions of dollars on imports and exports. The most recent, on May 10, imposed 25 percent tariffs on Chinese imports worth $200 billion a year. U.S. President Donald Trump has said the tariffs are punitive measures for multiple Chinese transgressions. The IMF analysis, however, said it appears Americans have been the ones punished the most so far.
"Trade tensions have negatively affected consumers as well as many producers in both countries," the organization wrote in the analysis Thursday. "The tariffs have reduced trade between the U.S. and China, but the bilateral trade deficit remains broadly unchanged.
"While the impact on global growth is relatively modest at this time, the latest escalation could significantly dent business and financial market sentiment, disrupt global supply chains, and jeopardize the projected recovery in global growth in 2019."'
IMF study: U.S. tariffs on China hurting Americans most
Interesting.
Hardly surprising to me...but still interesting.