Question

Limit 250 words and do give a live link to an article backing the information you are posting

Trade with China: tariffs, how will this affect the US and how will it affect China?

Answer 1

Article- Trump’s tariffs on Chinese products

Tariffs are taxes that the importer pays, not the country that imports the item. In an effort to bring China to the negotiating table, the Trump administration has imposed tariffs after alleging that the nation has unfair trade practices that harm U.S. development. But many times, it is the customer who is left paying a higher price for a product a problem that President Trump tacitly acknowledged when his administration decided to delay the tariffs on famous gift items for holidays.

Once a tariff has been imposed, there are a few options for companies. They can pass the tax on to consumers by charging higher prices, they can eat the difference to remain competitive, or they can push the supplier back to lower the product's base cost to account for the new taxes. Companies can even switch to a non-Chinese supplier in some cases.

With such a wide range of products in play and uncertainty about how retailers are going to respond, it is difficult to predict exactly how much these tariffs will affect the shopper everyday. Yet the two areas where price increases are most likely to be seen are on clothing and footwear Another area that can hit is your budget for food. For example, a "significant amount" of food we buy in supermarkets is linked to Chinese suppliers,