In a further escalation of the ongoing trade war between the U.S. and China, the Trump administration is preparing to announce 10% tariffs on an additional $200 billion worth of Chinese exports to the US, including a variety of consumer goods. The full list of goods on which the tariffs will be imposed is likely to be released later this week or early next week.
In drawing up its list of tariffs on $50 billion of Chinese products the Trump administration carefully tried to avoid one of the chief bad effects these tariffs will have on the US population by excluding many consumer goods from the list. This was clear proof the administration feared the hostile reaction from US consumers as prices went up on these imported goods in US shops. But by concentrating on trying to lessen the impact on US consumers the Trump administration has necessarily increased the negative effects on US jobs and particularly US manufacturers and farmers.
In recent weeks there has been a significant turn by the Trump administration towards a new international offensive, primarily focused on China, but with stepped up polemics also against Russia and Iran, and threats of escalated action in Syria and elsewhere in the Middle East.
*** Trump’s protectionism: Aiming at China, killing jobs
*** Trump’s concedes to talk directly with North Korea