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The strong consumption base keeps the U.S. economy growing, but there are problems in the relationship between the U.S. and the top 10 trading partners, making it difficult for enterprises to make decisions on important issues such as investment and recruitment.
This month alone, trump announced tariffs on steel and aluminum products exported from Argentina and Brazil to the United States; threatened to impose 100% tariffs on France's $2.4 billion worth of cheese, champagne and other goods; and threatened to raise tariffs on EU goods on aircraft subsidies.
On the other hand, the progress of trade negotiations with China is uncertain, and the trade agreements signed with Mexico and Canada are still waiting for the approval of the US Congress.
"We are drowned in uncertainty. This guessing game is cooling investment, halting hiring, and planting a curse on the turmoil in our entire industry, "said Steve Lamar, executive vice president of the American Apparel & Footwear Association. The United States imposed tariffs on Chinese goods exported to the United States, especially on the member enterprises of the association.
Trump has said China will pay for higher tariffs. But a study by the Federal Reserve Bank of New York found that Americans suffer the most from tariffs. More than 150 industry groups opposed to tariff hikes organized by a lobby called "tariffs hurt the heartland" said that since the war on trade, American consumers and businesses have spent an additional $42 billion on tariffs.


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