China-US Trade Tensions: Concerns over tariffs rise in America
Updated 12:43, 18-Jul-2018
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China-US trade frictions have become the attention of mainstream media in the United States. Criticism over losses for American farmers, workers and companies are voiced. Wang Tongxuan has more.
In Arkansas, where agriculture is the top industry, 800 million dollars worth of soybeans is exported each year. A 25 percent tariff is estimated to cost two-thirds of the state's export market in China. The Republican governor is worried.
ASA HUTCHINSON GOVERNOR OF ARKANSAS "We're feeling the impact already in terms of price. In Arkansas, we rely upon our experts overseas, both in terms of products but also agriculture products more specifically. We're hurt both by the tariffs we impose, but also the tariff that comes back in retaliatory fashion."
Some believe if Trump insists on a trade war, he would face pressure from both voters and the Republican Party. Derek Thompson from The Atlantic magazine calls it "the tenth own goal" for this year.
DEREK THOMPSON SENIOR EDITOR, THE ATLANTIC "87% of the computer companies in China that are subject to the tariff are non-Chinese, and a lot of them are American. Of the 30 districts that are most affected by soybean tariffs that China is implementing now on the US, 25 of them voted for Donald Trump. This is a self-inflicted wound. We are taxing ourselves in order to punish China for a completely unrelated tech problem."
And a former auto industry expert also weighs in.
JIM PRESS FORMER DEPUTY CEO, CHRYSLER "Nobody knows what can come out of a trade war. The outcomes are normally bad, nothing good. And in this case, I don't see how that gonna help American consumers. It's not gonna help American workers. And it's not really gonna be satisfactory to anybody in China either."