President Donald Trump's tariffs with China could threaten recent economic growth and put American businesses at a competitive disadvantage, Sen. Pat Toomey, R-Pa., said on ABC's 'This Week' Sunday. 'We've got a great economy, but I do think that the uncertainty caused by
President Donald Trump's tariffs with China could threaten recent economic growth and put American businesses at a competitive disadvantage, Sen. Pat Toomey, R-Pa., said on ABC's"This Week" Sunday.
Toomey said that while he gives Trump credit for challenging China on some of its trade practices with the U.S., China has not meaningfully changed its behavior. And, because China continues to be a significant part of the American supply chain, tariffs hurt manufacturers at home."This Week" Co-Anchor Martha Raddatz spoke with Pennsylvania business owners earlier this week, who said they expect to charge higher prices on consumer goods because of the tariff hikes.
However, some consumers who Raddatz spoke with said they think the economy is doing well and will stand behind the president, even if it were to decline. Trump, in response to the criticisms, has maintained that tariffs are having"a devastating effect" on China and will force them to the negotiating table.Trump has repeatedly asserted it will be China, not American consumers, who will pay for these tariffs. But many U.S. companies said the latest round of import taxes, effective Sunday, means customers will likely see higher prices on goods.
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