Rep. Upton speaks on trade war
BENTON HARBOR, Mich.--- US Representative Fred Upton spoke with Benton Harbor manufacturing leaders in a round table discussion on Monday. The discussion was mainly centered around the trade war between the United States and China.
After discussions broke down between the US and China, President Trump announced that he was increasing tariffs on Chinese goods. In retaliation, China announced on Monday that it was increasing tariffs on US imports.
"Until this is resolved, this is going to be a pretty big issue for all employers for the citizens across the state of Michigan," said Upton.
Experts believe the tariffs on Chinese imports could cost consumers hundreds of dollars per year and would result in price increases on items like cars and iPhones.
"It’s the consumer that’s going to pay these tariffs. They’re going to pay it because those tariffs are going to be passed along in higher costs," said Upton.
Wall Street has already seen the effects of the pending trade war between the US and China as stocks plummeted on Monday.
"I think as long as that uncertainty is out there, you’re going to have real rough waters to try and row against," said Upton