Impact of US-China Trade War Intensifies as Tariffs Bite
The ongoing trade war between the United States and China is creating significant economic challenges for American businesses and consumers. Experts warn that Trump’s tariffs on Chinese goods are driving up costs for U.S. manufacturers, with a staggering 80% of small businesses relying on Chinese imports facing potential collapse. As shelves threaten to empty and layoffs loom, economists express concerns over a looming supply shock in the U.S. economy. With manufacturers scrambling to adapt and some resorting to risky tactics to avoid the tariffs, the situation is becoming increasingly dire. Reports indicate that the trade war could harm trade relationships and manufacturing development, further complicating the economic landscape as both U.S. and Chinese firms reassess their supply chains amidst rising uncertainty.
The New York Times, Bloomberg.com, The Washington Post, WSJ, Business Insider, The Guardian, CNN, Fortune, Automation.com, Malay Mail