Trump and the Republican Party's base voters are the hardest hit in the China trade war
President Donald Trump arrives to speak at a rally at Aaron Bessant Amphitheater, Wednesday, May 8, 2019, in Panama City Beach, Fla. photo credit: ASSOCIATED PRESS
Clearly, no one is betting on it. The Dow is down nearly 400 points and China's A-shares, as represented by the CSI-300 Index, is down over 3%. Both Nancy Pelosi and Chuck Schumer, high ranking Democrats, agree with Trump's tough stance on China. Trump's tariffs, however, have also helped the Democrats win back the House of Representatives as farm counties hit with China's retaliatory tariffs voted Republicans out of office in November 2018. photo credit: ASSOCIATED PRESS
It hasn't been an overnight shift, but supply chains are definitely shifting out of China. Tiffany Zarfas Williams, owner of retail firm The Luggage Shop in Lubbock, Texas says she is looking for luggage and travel bags that are not Made in China."We are looking to shift our supply chain," she said, begrudgingly, during a conference call with reporters on Thursday.
China knows they are indispensable to U.S. business. It drives many in Washington crazy. The question many people are asking now is if China opts to wait out the Trump presidency and just deal with the tariffs, in hopes they do not lose too much business to the Americans. Trump said that China really prefers dealing with"weak Democrats", calling out Obama's vice president and presidential candidate Joe Biden in particular. He might be right.
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