Thune Says Trade Negotiators Noticing Tariffs Impact On China

(WNAX) — President Trump announced last week that he would impose a ten percent tariff on up to three hundred billion dollars of Chinese imports starting next month. That in addition to the twenty five percent tariffs already on two hundred fifty billion dollars in goods. South Dakota Senator John Thune says the President is continuing his hard line on trade…

“As I’ve said this before, I think we’re a long ways down that path. It wouldn’t have been the way I would’ve approached… this issue, obviously, in the first place; but, that being said the President has decided to confront China for a lot of their trade abuses and I think that a lot of people wanted to see that happen. It has consequences, economic consequences, and I think the latest round of tariffs, obviously, like the previous rounds will have some impact on our economy. We’re certainly seeing that in agriculture.”
Thune says the additional tariffs should hit the Chinese economy…

“But, my hope would be that what that does long-term is it forces China to make a deal and we continue to hear and see reports that China’s economy is suffering as a result of this and they’re a very export-driven economy and these tariffs, I think, really strike at the heart of, you know, their ability to grow their economy and… but then they are… they are a state-run economy and they’re willing to put their people through a lot… of pain.”
Thune says US trade negotiators tell them the tariffs are having an impact…

“But, we listen to what the President’s negotiating team and our trade ambassadors are saying in terms of the… the discussions, it seems to me at least, that they have gotten China’s attention and hopefully this latest round will lead to an outcome that is good for our country and good for bilateral trade and really good for the world economy because we’re the two biggest economies in the world.”
Economists estimate the new round of tariffs could cost US households an average of two hundred dollars a year in higher costs.