Trump Announces New Tariffs On Chinese Imports

[BmorePat87]

(03-23-2018, 10:29 AM)CKwi88 Wrote: I'm 100% certain that this will go completely differently from the time that Obama put tariffs on China. Or the time that Bush II put tariffs on China.

Hopes and prayers for a different outcome seems to be a trend.

Yep
http://money.cnn.com/2017/01/03/news/economy/obama-china-tire-tariff/index.html

Quote:Americans paid more for tires. Some Chinese-made tires cost as much as 26% more -- rising on average to $39 per tire, from about $31. And U.S. tire makers, facing less competition from China, also raised prices on American-made tires 3.2%.

According to Peterson's model, higher prices from the tire tariff cost Americans an extra $1.1 billion, which translated to an estimated 3,731 retail jobs lost.
Plus, China fought back by imposing penalties on U.S. shipments of chicken parts. The Peterson study estimates that China's retaliation cost American chicken producers $1 billion in sales.

We saved 1,200 jobs at the cost of nearly 3,700 jobs and $2.1b in losses.