How China Has Amped up Its Factories and Is Threatening to Crush U.S. Industry With a New ‘Tsunami’ of Cheap Products
A $1.9 trillion “tsunami” is headed for American industry — and it’s coming from China.
The Communist country of 1.3 billion people has shifted that much cash into amping up its factories in just four years in an effort to overwhelm manufacturers around the world with an influx of cheap goods.
President Trump’s 125% tariff on all Chinese imports into the US — which he announced Wednesday as he paused steep duties on most other countries — is actually just the latest protective measure against China.
The European Union, Brazil, Mexico and Thailand have either imposed new tariffs in the last few months, or are considering such measures to protect their own industries from Chinese imports.
“The tsunami is coming for everyone,” said Katherine Tai, trade representative for former President Joe Biden, told The New York Times. (Read more from “How China Has Amped up Its Factories and Is Threatening to Crush U.S. Industry With a New ‘Tsunami’ of Cheap Products” HERE)
