Share to twitterThe trade war could be here to stay for some time, say two diplomats who should know. If you’re importing products from China and you think your tariff problems will go away should there be a Democratic victory in 2020, you may be in for a rude awakening.
“I never believed in tariffs as an effective tool,” said Gary F. Locke, former U.S. ambassador to China, who also served as Commerce Secretary in the Obama administration, “but we’re already down this road, and they will stay in place in some areas even with a possible change of administration in 2020.”
Many companies attending the summit are working to move their sourcing out of China—especially in furniture, where the country is the dominant supplier—to elsewhere in Asia, with Vietnam being the chief beneficiary. Moving to a country like India may no longer be a solution, either, he said. India “has enjoyed privileged access to the U.S, but that is changing.”
Fair trade goes both ways. USA will benefit from the tariffs in the long run.
Sort of like obama care.
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