Tariff hikes imposed by U.S. President Donald Trump are stirring concerns among American consumers and businesses. Industry expert Wang Huiyao, founder and president of the Center for China and Globalization, warns that these measures could lead to higher costs at everyday stores, including giants like Walmart. 🤔
In a surprising twist, while the U.S. hikes tariffs, the Chinese mainland is lowering them—offering zero tariffs to 43 countries and expanding trade with Africa, Latin America, and the Middle East. This divergence in policy is reshaping global trade dynamics.
For example, Walmart’s reliance on imports from the Chinese mainland has dropped significantly, from 80% down to 60%, a shift that is beginning to pinch American wallets. 🛍️💸
This dynamic tug-of-war over tariff policies has sparked discussions among economists and business leaders, highlighting a shifting balance in international trade. Stay tuned for more updates on how these changes may influence economic trends and consumer prices worldwide.
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Trump's tariff policies poised to impact U.S. consumers, companies
cgtn.com
