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Offbeat A List of Everyday Items That Could Cost You More Money Because of Trump's Trade War

11:10  14 june  2018
11:10  14 june  2018 Source:   time.com

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Consumer goods could cost more . Trump ’ s list of targeted products, valued at some billion, focuses mostly on industrial machinery — such as Everyday Money . Election 2016. How Trump Could Start a Trade War in His First 100 Days . U. S . Republican presidential nominee Donald Trump and

Here Is a List of Everyday U.S. Exports That Could Cost More Because of Trump ' s Trade War .

  A List of Everyday Items That Could Cost You More Money Because of Trump's Trade War © Gareth Morgans—Getty Images; Moggy—Getty Images; Science Photo Library—Getty Images; mbbirdy—Getty I...

The countries being targeted by President Donald Trump’s newly imposed trade tariffs are retaliating with their own tariffs on U.S. goods that may have major implications for Americans including job losses and pricier items.

When Trump originally announced tariffs on metals — a 25% tariff on imported steel and a 10% tariff on imported aluminum — back in March, he exempted U.S. allies like Canada, Mexico and and the European Union from being taxed on those exports until June 1. Now that Trump has let the exemptions expire, those U.S. allies are fighting back with trade tariffs of their own on American goods, primarily on metals and agricultural products.

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Trump ' s ongoing trade war prompted retaliatory tariffs from the E.U., Mexico and Canada. Here's a list of U.S. exports that will be impacted. Here Is a List of Everyday U.S. Exports That Could Cost More Because of Trump ' s Trade War . By Alix Langone. June 13, 2018.

While Trump has long complained that trade agreements with nations like China and Mexico need to be renegotiated, his biggest move so far has been placing tariffs Here’s a complete rundown of all the goods that could cost you more — or already do — as a result of Trump ’ s trade war .

Tariffs on steel could have particularly negative impacts on Americans because the U.S. isn’t capable of producing the amount it needs, instead relying on 5 million tons of imported steel last year, according to the U.S. Commerce Department. Economists tell MONEY those tariffs, or a tax on an imported goods, implemented by Trump could increase costs for Americans on everyday items like cars and beer because U.S. companies.

“We’re going to have pay more for the goods that we buy and that makes us poorer. There’s just no question about it,” says Lawrence White, an economics professor at New York University’s Stern School of Business.

Trump’s new trade policy has been criticized by politicians on both sides on the aisle in the U.S. and around the world, where it took center stage at the recent G-7 Summit.

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When Trump originally announced tariffs on metals — a 25% tariff on imported steel and a 10% tariff on imported aluminum — back in March, he exempted U. S . allies like Canada, Mexico and and the European Union from being taxed on those exports until June 1. Now that Trump has let the

The Trump trade war has been blamed for all of the events above. What’ s more , a wide range of analysts and studies shows that the Trump tariffs It’ s hard to answer that definitively, in part because some companies say that they’re planning on creating jobs because of the Trump tariffs at the same

Some Americans could also lose their jobs as companies with already slim margins struggle to make ends meet with rising costs thanks to retaliatory tariffs. For example, if Canada slaps a 25% retaliatory tariff on American whiskey, that means anyone buying American whiskey in Canada has to pay an extra 25%. If you are a U.S. whiskey company that sells most of its booze in Canada, you could potentially go out of business because Canadians may buy their whiskey from other sources — and American workers could lose their jobs.

Tariffs imposed by the E.U. could affect about $3.4 billion worth of essential U.S. exports including steel, bourbon, peanut butter and orange juice, according to the Associated Press. Mexico’s tariffs would similarly impact almost $3 billion worth of American products. In addition to Canada, Mexico and the E.U., China also announced it is imposing a 25% tariff on more than 100 products it regularly imports from the U.S. in response to Trump’s tariffs.

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“China is not afraid of a trade war ,” the vice minister of finance, Zhu Guangyao, declared at a news conference to discuss possible countermeasures. Because the United States buys so much from China, Washington has many more ways to hit Chinese manufacturers.

Trump and his allies argue that America’ s trading partners – especially China – are taking “For every one job in the U.S. steel industry that could be protected by this tariff, there are about 80 jobs Here are just a few of the things that are likely to get more expensive because of Trump ’ s new tariffs

The tariffs being imposed by the E.U., Canada and Mexico are expected to go into effect in July, while some of China’s retaliatory tariffs went into effect in April. Here are some of the most common American goods that other countries have proposed retaliatory tariffs on as a result of Trump’s ongoing trade war.

Canada

  • Chocolate
  • Whiskey
  • Maple syrup
  • Washing machines
  • Cucumbers
  • Sailboats
  • Roasted coffee

You can see a full list of the hundreds of U.S. products that could face tariffs in Canada here.

European Union

  • Peanut butter
  • Motorcycles
  • Cranberry juice
  • Denim
  • Corn
  • T-shirts

You can see a full list of the hundreds of U.S. products that could face tariffs by the E.U. here

Mexico

  • Apples
  • Blueberries
  • Pears
  • Sausages
  • Pork
  • Lamps

China

  • Soybeans
  • Cars
  • Frozen orange juice
  • Fresh beef
  • Frozen boneless beef and beef chops
  • Aircrafts

You can see a full list of the hundreds of U.S. products that could face tariffs by China here.

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