Tuesday, June 19, 2018 9:24:34 AM
The U.S. is in the driver seat on this one as Americans import $350 billion more than we export. Meaning we import about $500 billion a year from China and they import $150 billion. They have no unions, lower wages, poor working conditions and their government banks subsidized most of their global companies to compete. Only recently have they started to upgrade specific worksites.
China has the advantage to produce a lower priced product. The U.S. has the advantage in wealth. The impact of tariffs would crush China ‘s economy, increase inflation and manufacturing in the U.S. as we then would be making the same products for about the same price. Unions, wages and the impact of strikes will grow too.
The 80’s all over again.
Good luck to all
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