Capitol Report: Trump tariffs on China boomerang on American manufacturers, RBC contends

AFP/Getty Images
Signs with the US flag and Chinese flag are seen outside a store selling foreign goods in Qingdao in China’s eastern Shandong province. A trade war has hurt both the U.S. and Chinese economies as well as the rest of the world.

A broad slowdown among American manufacturers suggests the U.S. has just ‘as much or more” to lose as China from a trade dispute that’s led to tit-for-tat tariffs, fresh research contends.

U.S. manufacturers have been unable to quickly find alternative sources of supply to avoid tariffs on Chinese goods, according to RBC Economic Research.

Nor have they been able to persuade exporters whose goods have been hit with tariffs to cut prices very much.

>>> Original Source <<<