China-US Trade Tensions: Trump's tariffs on Chinese goods could hurt US consumers
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For more on how Trump's tariffs on Chinese goods may affect US consumers. Our New York correspondent Karina Huber tells us more from her own experience.
KARINA HUBER NEW YORK "Trump's tariffs on Chinese imports have not been implemented yet and at the moment they are largely targeting industrial imports - trying to shield consumer sensitive products. But if things escalate, who knows what might be included? The U.S. imports more products from China than from any other country. Last year those products in total valued 506 billion dollars. That has gotten me thinking. How dependent am I on Chinese made goods? To answer that question, let's head into my home to take a look.
Welcome to my living room. This couch is where I spend a good chunk of my time. Where is it made? You guessed it - China. What about this chair? Let's check. Yup. Made in China. So is this table and this TV console. About 50 percent of U.S. furniture imports come from China.
My TV is a Samsung - so made in Korea, not China - but electrical machinery and equipment is the U.S. top import from China. That category includes televisions, laptops, phones and more. In 2017, the amount of those imports was 147 billion dollars.
Let's head over to my kitchen - these bowls and plates - made in China. So is this blender. And the list of products goes on.
Now let's go to my son's bedroom, which is full of toys. This one - made in China, this one - made in China, this one - made in China. You get the idea. The vast majority of toys you'll find in American households are made in China.
When it comes to clothing, China has competitors like Turkey and Vietnam, but it's still a juggernaut in apparel manufacturing. The U.S. imported roughly 47 billion dollars-worth of clothing made in China in 2017. And what about sneakers? These Nike Air Jordans are made in China. Overall, the U.S. imported 1.4 billion dollars' worth of sneakers from China in 2017.
How much would the price of all these goods increase if tariffs are imposed? At the moment, that is unclear. Companies traditionally pass on higher costs to consumers but by how much we don't know. They could shift production to other low-cost manufacturing countries to skirt the tariff but changes in global supply chains can be cumbersome and take time. What seems most certain is that if the tariffs are ultimately implemented U.S. consumers COULD face a more costly future. Karina Huber, CGTN, New York.