Colombia had a choice when US President Donald Trump threatened heavy tariffs on it if it did not allow landing of planes loaded with immigrants. Columbia allowed the planes into its airspace and on its airports, and the matter was over. But for China, Canada, and Mexico, choices are sparse and heavy tariffs are a matter of time. Trump has decided to slap new tariffs on imports-25 per cent on goods from Canada and Mexico and 10 per cent on Chinese products. He wants the US people to manufacture products and for themselves. He says it is to stop illegal immigration, drug trafficking and unfair subsidies.
\nBut who pays? Of course, American businesses. If a US company buys car parts from Mexico, it must pay extra. These costs will hit consumers \u2013 US consumers. Prices will rise for US consumers.
\nTrump says it will bring jobs back to America. He asks investors to build plant in the US to avoid US tariffs. Sounds simple, but it is not as factories take years to build. Supply chains are global.
\nThe last time Trump did this, China hit back. US farmers suffered and Soybean and corn exports crashed. Trump bailed them out with billions. The Council on Foreign Relations says 92 per cent of tariff revenue went to these payouts. Could this lead to a trade war? Trump\u2019s camp says no. But Europe might be next. If others retaliate, things could spiral. And Pakistan? China\u2019s economy affects it. If Chinese exports slow, so does its demand for raw materials. Pakistan\u2019s trade, investment, and CPEC projects could feel the heat. Trump does not need Congress. He can claim \u201cnational security\u201d and push tariffs through. Courts will struggle to stop him.
\nTrump and all Americans must understand that tariffs are meant to punish imports. But in the end, Americans will pay. <\/p>\n","protected":false},"excerpt":{"rendered":"
Colombia had a choice when US President Donald Trump threatened heavy tariffs on it if it did not allow landing of planes loaded with immigrants. Columbia allowed the planes into its airspace and on its airports, and the matter was over. But for China, Canada, and Mexico, choices are sparse and heavy tariffs are a […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":{"0":"post-459119","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-editorial"},"yoast_head":"\n