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Your position : Home > News > Social News > What do you think of the Trade wars, ...

What do you think of the Trade wars, Trump tariffs?

Michelle Sunny Glassware 2019-06-26 12:28:08
US President Donald Trump has shaken the foundations of global trade, slapping steep tariffs on billions of dollars' worth of goods from the EU, Canada, Mexico and China.

What is a trade war?

It's what it sounds like - a trade war is when countries try to attack each other's trade with taxes and quotas.

One country will raise tariffs, a type of tax, causing the other to respond, in a tit-for-tat escalation.

This can hurt other nations' economies and lead to rising political tensions between them.

what is a tariff?

It's a tax on a product made abroad.

In theory, taxing items coming into the country means people are less likely to buy them as they become more expensive.

The intention is that they buy cheaper local products instead - boosting your country's economy.

Why is Trump doing this?

The president has placed tariffs on billions of dollars' worth of goods from around the world, in particular China.

He's imposed a 10% levy on $200bn (£150bn) worth of Chinese products so far. In May, he announced plans to impose a 25% tariff on $325bn of other Chinese goods.

Mr Trump said the $100bn gained from the tariffs will be used to buy US agricultural products, which will then be sent to "poor and starving countries" for "humanitarian assistance".

He also wants to cut the trade deficit with China - a country he has accused of unfair trade practices since before he became president.

Mr Trump made a big point on the campaign trail about cutting the country's trade deficits.

He's convinced it hurts US manufacturing, and has said time and time again on the stump and on Twitter that the US must do more to tackle them.


What's a trade deficit?

It's a term meaning the difference between how much your country buys from another country, compared with how much you sell to that country.

And the US has a massive trade deficit with China. Last year, it widened by $43.6bn to $419.2bn.


How is it all going to end?

No idea.

Historians have pointed out that tariffs often lead to higher costs for the consumer, while economists across the board are against the plans.

The Republican Party is also overwhelmingly against Mr Trump on tariffs - they're big supporters of free trade.

Mr Trump's decision to take on China could lead to adverse effects for consumers in the US and in China, but also worldwide.

An economic showdown between the world's biggest economies doesn't look good for anyone.

This is the factor we already met now,what we should do is still focusing on product quality and improve our technical skill to make more high-end products to the world. You may think it`s easy to make the glass bottles and candle holders,but it`s hard to make it better if you are looking for details. So you have to choose Sunny here to make the candle holders for you. However,we are also looking for better way to avoid this high tariff that our clients could pay less during this trade war.