The Trade War is On!

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Erin Ennis is the Senior Vice President of the U.S. China Business Council. He said there is one potential danger. He stated that the two sides probably don’t have good strategies to continue negotiations. Ennis added that U.S. companies in China agree with some of Trump’s statements. But they don’t see how these taxes will push Beijing into submission.

Some of the Republicans in Congress criticized Trump’s actions.

Jerry Moran is one of the senators from Kansas. He said that these taxes will hurt ranchers, airplane manufacturers, farmers, and American consumers. He thinks that the U.S. should isolate China instead of starting a huge trade war.

China was forced to retaliate, according to China’s commerce ministry. Their actions will now subject American exports of lobsters, cars, and soybeans to 25% taxes.

It’s difficult to see how the trade war will end. President Trump is a master business man. He no doubt has a strategy to win the long game. But many wonder how much his decisions hurt American businesses in the short term.