Primepress
American businesses who want to sell to the massive Chinese market have recently suffered greatly. Some people will leave the country entirely if the price of all US goods entering the country increases by 34%.
This is particularly detrimental to American farmers. In reaction to the most recent wave of Trump tariffs, they already had 10 or 15% duties on their produce entering China. On top of that, 34% is likely pricing out the majority of them.
Although Beijing is aware that it is hitting the US president in his own country, it doesn’t appear to be too concerned about searching elsewhere for more sorghum, pig, and poultry.
All of this worries analysts around the world.
The issue is that supply chains are now so globalized that parts for a single product may arrive from anywhere in the world.
Therefore, it could have disastrous effects on all trade when the effects of economic distress begin to spread from one nation to another.
By
