Tariffs on China is not only affecting the retail sector in the USA; it is destroying jobs in many other sectors as well. The creation of jobs has not been seen yet, but the destruction of jobs is happening right before our eyes.
The trucking sector, in the frontline, and dock workers are feeling the first whammy right now, with truckers idling with fewer jobs. With lesser or no earnings, what would they depend on for survival? If they are working for a trucking company, there is the bigger fear over the loss of their job. If they own their trucks, a day idling is a problem for them to pay the loans for their trucks, on top of maintenance costs.
Factories also depend on imported parts from China, and with tariffs and parts stuck at ports or cancelled, factories cannot operate optimally to make affordable goods and may have to cut production lines and do away with jobs that are not needed. With more people losing jobs, even Federal jobs, how is the retail sector going to survive with people having little to spend? Again, the same result of closing outlets and letting people go. This is all the compounding problems resulting from just the simple effect of the imposition of tariffs. Problems that have obviously not been foreseen.
Trump and his administration are really desperate now to end this madness, but being a problem that they created, China is not going to back down and will dig in. Sure, China is also feeling the effect, but not as serious as the USA. China still has the Global South market to fall back on, an area that it can compete effectively.
Anonymous
3 comments:
Scott Bessant, on behalf of the Trump, is like telling Xi, we slapped you, but in order to have a chance to negotiate, Xi should remove the USA slap mark on his face and go to kiss Trump's arse. The Chinese will never bow down to such arrogance.
That is really arrogance on top of delusional. Scott Bessant can continue to spout nonsense and refrain from appearing to want to cry in front of the cameras, stuttering and uttering un-intelligible answers to difficult questions. One example was a reporter asking about tariff negotiations now ongoing with 200 countries and daring him to name one country that had negotiated successfully with Trump. He evaded the question, saying that the USA does not reveal such information, while all the time revealing the lie about China negotiating. Isn't that revealing enough, but based on lies.
I think the whole Trump administration is a big joke. As I said before, things are falling apart, but never do I expect so early with just Trump's 100 days in office. Elon Musk scooted, unable to agree with other factions of Trump's cabinet and also suffering the curse of associating with Trump. Mike Waltz, the national security adviser to Trump, has just been removed, and Pete Hegseth is next one going under the bus over signalgate. Fast and furious is taking on a new meaning.
Some other gates are going to open soon, with Scott Bessant probably going to face tariffgate when retailers start to show empty shelves with consumers having to 'hang tough' not knowing for how long.
For all we know, Trump himself may have to face 'Russiagate' once more for his bending over to Putin over Ukraine and the exemption of Russia over his tariffs. Now, we are openly seeing the different messages sent out by Trump and J. D. Vance about the war in Ukraine. Trump is demanding that the Ukraine War should wrap up within two weeks, while Vance is saying that the war is not going to end soon. Do we see the picture?
No sane person lasts long with the orange bankrupt and loser. His 1st Secretary of state, Rex Tillerson quit early. He replaces staff like changing underwear. With his smelly privates, his schedule is more frequent than the ordinary person.
We just have to watch the cracks to know what is going to happen. The changing of underwear is going to follow what happened during Trump's first term. What is even worse is that people like Steven Bannon and Mike Pence are singing like a canary, exposing Trump.
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