The Impact of the Trump Era Tariffs on Chinese Imports | 3min snip from Money For the Rest of Us

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Did the Tariffs Work? The Trade War Five Years Later

Money For the Rest of Us

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The Impact of the Trump Era Tariffs on Chinese Imports

The Biden administration has maintained the Trump era tariffs on Chinese imports and also on steel and aluminum. Exports from the US were $2.4 trillion in 2017, now they're $2.9 trillion because exports have grown less than imports. The overall US trade deficit with China went from 350 billion back in 2017 to 372 billion.

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What has been the impact on trade and the trade deficit since the U.S. implemented tariffs on steel, aluminum, and goods made in China?

Topics covered include:

Has the shipping backlog been reduced at U.S. ports
What are the dangers of running too high of a trade deficit
How large is the U.S. trade deficit
What has been the impact of U.S. tariffs on trade, domestic production, and prices
How Chinese direct-to-consumer retail companies Shein and Temu are driving prices of goods ever lower
Why consumers should demand greater visibility on how products they purchase are made

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Show Notes

The ‘ship backup has ended’ at Los Angeles, Long Beach ports by Alejandra Salgado—Supply Chain Dive

America’s Trade Deficit Surged in 2022, Nearing $1 Trillion by Ana Swanson—The New York Times

Industry study tracks China tariffs’ added costs to importers and consumers by Ben Unglesbee—Supply Chain Dive

Costs of Trade Wars: The Distributional Consequences of US Section 301 Tariffs Against China by Kara M. Reynolds—SSRN

Certain Effects of Section 232 and 301 Tariffs Reduced Imports and Increased Prices and Production in Many U.S. Industries by USITC—United States International Trade Commission

Economic Impact of Section 232 and 301 Tariffs on U.S. Industries by USITC—United States International Trade Commission

The other Chinese apps taking the US and UK by storm by Chelsea Bailey—BBC