Trade war: Trump’s dangerous game of chicken
How far will the tariff one-upmanship with China go?
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President Trump escalated the trade was with China last night, threatening to subject another $100 billion in Chinese consumer goods to tariffs. The move is a the latest in a string of one-upmanship that could mean significantly higher prices for outdoor gear.
On March 22, Trump announced that he would impose $50 billion in unilateral tariffs on Chinese goods in an effort to address counterfeit products. China responded two weeks later with its own list of new tariffs on American products. Outdoor gear, specifically, was not on that list, but machinery and tools used to make gear will be subject to the new tariffs.
“These tit-for-tat trade actions could spell disaster for the U.S. economy and make it harder for Americans across the country to afford everyday products and basic necessities,” said the National Retail Federation in a statement. “It is inevitable that China will respond with more retaliatory actions that cause even further harm to American farmers, businesses and consumers. We urge the administration to change course and stop playing a game of chicken with the nation’s economy.”