Trade war just got more real

The trade war continues to escalate. And it is about to get much more real. Already we have seen the impacts of President Trump’s decision to impose tariffs on a variety of items made in other countries but sold in the U.S. Largely, that impact has been higher prices for American consumers, and declining sales for American producers and retailers trying to sell their products overseas, as those countries impose retaliatory tariffs. Now, Trump has imposed even more tariffs, $200 billion worth, on products made in China and sold in the U.S. And guess who isn’t happy about that? America’s largest retailer. Walmart says because new tariffs will cost the company more to import products from China, it will likely have to raise its prices as a result. That means more money out of our pocket. Or declining sales. Among the specific items likely to see increased prices at Walmart are gas grills, bicycles, even Christmas lights. There is no way to win this trade war. We slap tariffs on other countries, they slap tariffs on us. Meanwhile we pay more, and producers of American products sell less overseas. Doesn’t sound like we are coming out winners in this trade war.