Page 17 - THE SOUTH CHINA BUSINESS JOURNAL
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big a deal is the trade war with China for Top Import Common Products
American consumers? Big, and potentially Categories Americans Buy in Those
getting bigger. From China: Import Categories:
Electrical
U.S. merchandise imports from China totaled Machinery Transformers, Generators,
$539.5 billion last year, according to the Office of Motors
the U.S. Trade Representative. In the past year, Machinery
the U.S. has imposed tariffs of 25% on $250 billion Drill press, Hobbing (gear
of these goods, and the White House has been Furniture & cutting) machine, Gear
preparing to roughly double the reach of these Bedding shaper, Broaching (metal
tariffs to cover virtually all goods from China. cutting) machine
China has already retaliated with tariffs on $110 Toys & Sports
billion of U.S. exports. Equipment Comforters, Pillows,
Plastics Sheets, Couches, Tables,
So what exactly are we importing? Everything Chairs, Picture Frames,
from plastic cups and comforters to car motors Bookshelves, Lamps,
and tables. Textiles
This back-and-forth tariff tag is hurting both Balls, Dolls, Toy trucks,
consumers and American businesses. The latest Action figures
round of U.S. tariffs, which were implemented
in May, applied to imports from China cost the Computer parts, Cell phone
average American household $500 according to parts, Toys
Katheryn Russ, an economics professor at the
University of California at Davis. Additionally, Tariffs are a tax on Americans, not on foreigners,
the threatened expansion of tariffs to cover and studies show Americans are indeed bearing
virtually all goods from China could cost the the overwhelming majority of these costs.
average American family of four more than
$2,000 annually. The unpredictability of tariffs is causing concern
across the U.S. business community as well.
Manufacturers, farmers, and technology In fact, since the beginning of the year, more
companies will all take a revenue hit as costs than a quarter of earnings calls by Fortune 500
on commonly used products and materials companies have mentioned the impact of tariffs,
rise – risking a decrease in the U.S.’ recent according to analysis conducted by the U.S.
economic resurgence. Chamber of Commerce. The research found that
retailers and manufacturing and industrials were
To show just how many goods American the sectors most likely to discuss the impact of
consumers might have to pay more for if another tariffs on business performance. More than half
round of tariffs is implemented, the top U.S. of retail earnings calls (61%) discussed tariffs and
imports from China are listed below. nearly half of all manufacturing and industrials
earning calls (47%) mentioned them.
Comments surrounding tariffs on the
earnings calls had the following broad themes:
financial pressure, supply chain disruption,
uncertainty, delayed transactions and pass-
through costs to consumers.
What does this mean for Americans? If the
earnings calls are any guide, these increased
costs from tariffs will almost certainly result in
Americans paying more at the checkout counter
for a wide range of items.■
South China Business Journal 14
American consumers? Big, and potentially Categories Americans Buy in Those
getting bigger. From China: Import Categories:
Electrical
U.S. merchandise imports from China totaled Machinery Transformers, Generators,
$539.5 billion last year, according to the Office of Motors
the U.S. Trade Representative. In the past year, Machinery
the U.S. has imposed tariffs of 25% on $250 billion Drill press, Hobbing (gear
of these goods, and the White House has been Furniture & cutting) machine, Gear
preparing to roughly double the reach of these Bedding shaper, Broaching (metal
tariffs to cover virtually all goods from China. cutting) machine
China has already retaliated with tariffs on $110 Toys & Sports
billion of U.S. exports. Equipment Comforters, Pillows,
Plastics Sheets, Couches, Tables,
So what exactly are we importing? Everything Chairs, Picture Frames,
from plastic cups and comforters to car motors Bookshelves, Lamps,
and tables. Textiles
This back-and-forth tariff tag is hurting both Balls, Dolls, Toy trucks,
consumers and American businesses. The latest Action figures
round of U.S. tariffs, which were implemented
in May, applied to imports from China cost the Computer parts, Cell phone
average American household $500 according to parts, Toys
Katheryn Russ, an economics professor at the
University of California at Davis. Additionally, Tariffs are a tax on Americans, not on foreigners,
the threatened expansion of tariffs to cover and studies show Americans are indeed bearing
virtually all goods from China could cost the the overwhelming majority of these costs.
average American family of four more than
$2,000 annually. The unpredictability of tariffs is causing concern
across the U.S. business community as well.
Manufacturers, farmers, and technology In fact, since the beginning of the year, more
companies will all take a revenue hit as costs than a quarter of earnings calls by Fortune 500
on commonly used products and materials companies have mentioned the impact of tariffs,
rise – risking a decrease in the U.S.’ recent according to analysis conducted by the U.S.
economic resurgence. Chamber of Commerce. The research found that
retailers and manufacturing and industrials were
To show just how many goods American the sectors most likely to discuss the impact of
consumers might have to pay more for if another tariffs on business performance. More than half
round of tariffs is implemented, the top U.S. of retail earnings calls (61%) discussed tariffs and
imports from China are listed below. nearly half of all manufacturing and industrials
earning calls (47%) mentioned them.
Comments surrounding tariffs on the
earnings calls had the following broad themes:
financial pressure, supply chain disruption,
uncertainty, delayed transactions and pass-
through costs to consumers.
What does this mean for Americans? If the
earnings calls are any guide, these increased
costs from tariffs will almost certainly result in
Americans paying more at the checkout counter
for a wide range of items.■
South China Business Journal 14
