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Why To Care If There Are Tariffs

WAMU 88.5
Published March 26, 2018 at 10:06 AM EDT
Asian markets plunged on March 23 following a sell-off in New York as President Donald Trump sparked fresh trade war fears by imposing huge tariffs on Chinese imports and Beijing unveiled its own measures against U.S. goods.
NICOLAS ASFOURI/AFP/Getty Images
Asian markets plunged on March 23 following a sell-off in New York as President Donald Trump sparked fresh trade war fears by imposing huge tariffs on Chinese imports and Beijing unveiled its own measures against U.S. goods.

First, President Trump imposed tariffs on Chinese imports, with hopes of narrowing the trade deficit. Then China responded, with tariffs on wine, pork, pipes and more.

Then the market reacted.

The world’s two biggest economies seem ready to duke it out over trade. And while many experts say it’s hard, if not impossible, to win a trade war, who will feel the pain first?

GUESTS

Kimberly Adams, Senior reporter, Marketplace; @KA_Marketplace

C. Fred Bergsten, Senior fellow and founding director of the Peterson Institute for International Economics. Author of “China’s Rise.”

Celeste Drake, Trade policy specialist, AFL-CIO. @CDrakeFairTrade

Erin Ennis, Senior Vice President of the US-China Business Council

Tom Slunecka, CEO of the Minnesota Soybean Growers Association

For more, visit https://the1a.org.

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