'No one will win a trade war or a tariff war,’ Chinese Embassy to US says to GT in response to Trump’s latest 10% additional tariff remarks

Justin Trudeauprime Minister

This is a relationship that we know takes a certain amount of working on, and that’s what we’ll do,

Trudeau told reporters

Tariffs would likely be a higher tax on consumers – U.S. consumers,

Sinclair said

As he did in his first term, he will implement economic and trade policies to make life affordable and more prosperous for our nation,

Hughes added

We expect the increase in tariffs to lead to a rebound in inflation and a slowdown in economic growth,

Rabobank said

Inflation will pressure consumers to seek value, with an emphasis on private-label products, affordable luxuries and occasional dining out,

the report says

Therefore, the agribusiness sector in Australia and New Zealand should focus on profitability drivers, optimisation and diversification of products and markets to navigate change,

it said

A stronger US dollar and decreased US competitiveness in global markets would be a positive for Australian and New Zealand grain, oilseed, dairy and beef exports, particularly in the Asian wheat and dairy markets and global beef trade,

it says

But that's a heavy lift, especially for a Republican Congress

at the start of Trump's term ... said Stephen Kho, a trade lawyer at Akin Gump and former China trade enforcement counsel at the Office of the U.S. Trade Representative

It’s going to be very bad for the North American economy if this scenario unfolds as promised. We can hope that it’s just an elaborate bluff,

Clausing says

This is a time when U.S. consumers have expressed a lot of dissatisfaction with inflation, and arguably elected Trump because of that dissatisfaction,

says Kimberly Clausing, former lead economist in the Biden Administration’s Office of Tax Policy

So much of what we get in the US, from PlayStations to avocados … are from different places,

said Harris of Catoctin Creek

I don’t think that tariffs alone are going to bring manufacturing back to the United States without other initiatives,

said Rheuban

If you want a poster child for why tariffs don’t work, you just have to look at our industry,

said Nate Herman, of the American Apparel & Footwear Association (AAFA).

I’m a little worried that something like that might happen again,

said Rheuban

None of the materials that go into a shoe or a shirt are made here any more,

he added

Threats during the election time are beyond reality,

he said

If we were to improve our economy, more companies should start, more companies should be allowed to produce things,

he said

If you want to purchase a tie from the Donald J Trump collection, you better get it immediately or it’s going to cost an extra 10 percent,

Kimmel joked

The problem is, China and Canada and Mexico don’t actually pay the tariffs,

Kimmel continued

And then we have $40 avocados as a result. This could send inflation through the roof,

he said