New 10% US tariffs on Chinese goods have triggered swift countermeasures from the Chinese mainland, escalating trade tensions that analysts say could hit American wallets hardest. Professor John Gong of the University of International Business and Economics in Beijing predicts the Trump-era tariffs will backfire, stating: \"American consumers will ultimately bear these costs through higher prices on everything from electronics to home appliances.\"
The measures come as global markets brace for ripple effects. While aimed at protecting US industries, critics argue tariffs disrupt supply chains already strained by pandemic recovery efforts. Recent data shows consumer goods account for nearly 40% of targeted Chinese imports, suggesting immediate impacts on holiday shopping budgets.
Young professionals and entrepreneurs are watching closely, with many startups reliant on affordable tech components facing tough choices. As cross-border e-commerce grows across G20 nations, the dispute highlights how trade policies increasingly shape daily life for globally connected youth.
Reference(s):
Trump's tariffs will ultimately raise costs for American consumers
cgtn.com
