On Thursday, the Trump administration raised tariffs on $200 billion worth of Chinese goods from 10% to 25%, and on Monday China retaliated by announcing $60 billion in tariffs on U.S. items. Here are some reactions:
President Donald Trump tweeted that tariffs will make the country stronger and bring "far more" wealth than before. He also offered companies an option on how to avoid the new tariffs.
NPR's Yuki Noguchi wrote that we in the U.S. will feel the cost of the tariffs.
- "The prices of the things we buy, from floor lamps to canoes and bicycles, are slated to go up, literally overnight, as the Trump administration makes good on a promise to raise tariffs on $200 billion worth of imported Chinese products."
Sen. Lindsey Graham tweeted out his support of the tariffs, saying we need to "accept short term pain for long term gain."
Forbes contributor John Brinkley commented that tariffs always end up hurting the consumers and countries tend to find a way around them to get what they need.
- "Trade sanctions always victimize consumers. And farmers. When other countries react to what they consider unfair trade practices by the United States, they almost always hit back where it hurts — in farm country. Since China imposed a retaliatory tariff of 25 percent on American soybeans, farmers who had been exporting most of their beans to China are now storing them in grain bins, where they’re in danger of spoiling. China has made up for the loss by buying more soybeans from Brazil."
The official GOP twitter account praised Trump for taking action against China's "unfair" trade practices.
Catherine Rampell, a columnist for the Washington Post, said that tariffs hurt the U.S., especially in red counties.
- "Two separate studies by separate teams of all-star economists have found that 100 percent of the tariffs Trump has imposed so far are being passed along to, and paid by, U.S. consumers. One of those studies also found that workers in heavily Republican counties were being hurt the most by Trump’s trade wars, thanks to both the tariffs the president has imposed on our imports and the tit-for-tat retaliation other countries have slapped on our exports."
David French, vice president for government relations for the National Retail Federation, told the New York Times that the U.S. may lose jobs if these tariffs are implemented.9 comments on this story
- “A sudden tariff increase with less than a week’s notice would severely disrupt U.S. businesses, especially small companies that have limited resources to mitigate the impact. If the administration follows through on this threat, American consumers will face higher prices and U.S. jobs will be lost.”
In reaction to China's retaliation, Roger Johnson, the president of the National Farmers Union, told the Wall Street Journal this announcement came at a terrible time for U.S. farmers who are already suffering due to this trade war.
- “These retaliatory tariffs from China could not come at a worse time for family farmers and ranchers, who are already coping with depressed commodity prices, environmental disasters, and chronic oversupply.”