Home Tech News Donald Trump’s Trade War With China Could Eliminate More Than 292000 Jobs

Donald Trump’s Trade War With China Could Eliminate More Than 292000 Jobs

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Right now the only thing which is making every businessperson and investors in the USA worrying then it’s the trade war of the USA against China. According to a recent case study, it’s been found this trade war will not bring any good results for the USA since it will cost more than 292000 US jobs in the future. Many investors are worried about this situation because many techs and other sectors company’s stocks are lowering down from the last few months and if the situation keeps going then it will create a significant unemployment problem. The think tank predicts that if the US and China keep increasing the tariffs then soon it will eliminate more than 292000 jobs in the USA.

To attack China, the US has already decided to increase the taxes on some products which is now negatively impacting on the income of middle-class citizens of the USA. The prices of the imported goods from China has skyrocketed, and many consumers along with retailers whose business depends mostly upon Chinese products are right now going through tough times. Experts predict a lower GDP growth rate in future if the situation continues like this because increasing tax rates of the most demanding products in the market will ultimately will negative results, and it seems like that’s what is happening right now. China has already increased the tax rates on the US made significant products due to which many exporters are now finding it hard to sell the product in the Chinese market.

However, recently both the countries have shown the interest to end this trade war at the G20 summit. But still both the states yet to stop this trade war officially and if the USA doesn’t want to lose that much amount of jobs, then it’s better to end this trade war.