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