Companies Warn More China Tariffs Will Cripple Them and Hurt Consumers
From New York Times, In Print — Aug 20th, 2018
As the Trump administration weighed tariffs on another $200 billion in Chinese imports, American businesses lined up in Washington to warn that higher costs could cripple industries and raise consumer prices. From bike helmets to prom dresses, executives testified that shifting supply chains away from China is neither feasible nor affordable.
Henrietta Treyz, director of economic policy research at Veda Partners, cautioned that the White House remains “unwavering” in its belief the U.S. will win the trade war, but said there is little evidence China intends to capitulate. Her analysis suggests tariffs are unlikely to end soon, leaving businesses and consumers caught in the crossfire.
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