A People’s Daily survey tries to understand the concerns of losing Chinese products from US families
According to a People’s Daily survey, US families cannot live without Chinese products and they hope that US and China goes for bilateral cooperation. Even the New York Daily News, in a recent report, pointed out that if the Trump administration imposes $60 billion in tariffs on Chinese commodities, the move will influence all Americans.
The numbers speak clearly: over 41 percent of clothes, 72 percent of shoes and 84 percent of travel goods in the US market are made in China. To give an example, at present an American who wants to buy an Easter egg from Walmart can find it at less than $ 15, but with the inscription “made in China”. Things may change next year.
Another example? An original Apple cable of one meter costs 19 dollars, while a Chinese product with the same characteristics only 7.99 dollars. Moreover, these Chinese products are not sold only by chain of stores like Walmart, but also by Amazon and Ikea.
Many interviewees, according to the People’s Daily report, are afraid that these prices may go up a lot
According to statistics from Footwear Distributors and Retailers Association (FDRA) in the US, for the whole year in 2017, the US imported 2.38 billion pairs of shoes worth over $25 billion while its domestic manufacturers only made 25 million pairs.
If the trade war between the US and China does not end, probably the worst in danger will be for the American families with low income, which currently can find products at an affordable price thanks to imports from China. To confirm it was also the Peterson Institute for International Economics (PIIE), a US private research institution.
The United States Global Partners (USGP), an international trading and business consulting company based in the US, reveals that things could be bad for US workers too. Over 26,000 new jobs in the steel and aluminum industries will be created, but a far larger number of almost 500,000 employees from related industries will lose their jobs owing to rising costs.