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The tit-for-tat escalation of the tariff war continues – and the damage is mounting quickly.
In the latest round of blows, China imposed tariffs on an additional $16 billion in U.S. exports on August 23. This action was in direct response to the U.S. imposing tariffs on an additional $16 billion worth of Chinese exports and adds to the tariffs already imposed on $34 billion worth of U.S. exports. As it now stands, both the U.S. and China have leveled tariffs of $50 billion on imports from the other country.
This is the latest development in a senseless and counterproductive emerging trade war that is already having damaging effects on state economies, consumers and businesses. We broke down the impact of the additional tariffs on U.S. exports by states. Here are a few key takeaways:
18 states saw the value of their exports subject to tariffs more than double
24 states have more than $100 million in exports subject to the new tariffs
And 14 states now have 10% (rounded to the nearest percent) or more of their total exports to China, Mexico, Canada, and the EU subject to tariffs
Behind these jarring statistics are real American businesses, workers and families who have been negatively affected by the emerging trade war. Check out TheWrongApproach.com to learn more about the latest tariffs and hear voices from every state across the country about the damage inflicted.