China, United States, Wall Street Journal discussed on WSJ What's News
So you can think of that as raising about twenty billion dollars. That's about the cost of the tariff at their imposing, and the thing they said at the time was that they were going to raise that tariff to twenty five percent. They were originally going to do that in January. But it's part of this truce they agreed to postpone it until March. So if they do it it would go from ten to twenty five percent. So you can think of that as being like twenty billion dollars in tariff payments jumping all the way up to about fifty billion now in practice. It'll be a little bit different than that. Because rather than companies continuing to import things from China. They might search for suppliers in other parts of the world. So it could be a really big disruption to trade between the two countries. And then the course the flip side of it is that every time the US has imposed tariffs on China. China has responded by imposing tariffs on the United States. So it's been really balanced. It's been a really tit for tat back and forth. And I think we can expect if the US did go. Oh forward with these big tariffs. China would respond with really big tariffs as well. And you know, we've already been seeing economic effects from this. I mean, it's obviously been a concern for the stock market. The stock market has really not liked it when these tariffs have risen. It's started to affect global trade numbers. Pretty obviously, you're seeing the global trade has down. And you're seeing starting to kind of take a toll on economic growth. Global economic growth has been weaker and the US could be in first lowdown this year to it's already slowed a little bit from it's really fast pace early in two thousand eighteen and so there's a lot at stake here if these tests actually go up higher. All right. That's Wall Street Journal reporter, Josh zoom. Maroon joining us from Washington with the latest on trade talks between the US and China. Josh. Thank you so much. Thanks for having me. And that's what's news. I'm Anne Marie for totally in New York for the Wall Street Journal..