'People are forced to pay more to buy American’: Boom Bust weighs in on US-China trade war
American consumers will take the brunt of the US-China trade row and the tariff race, that can make the prices on their products become almost equal, a market expert explained to RT’s Boom Bust.
The paused trade war comes in line with President Donald Trump’s promises to help American manufacturers, but in fact leaves no choice for consumers, according to expert Melissa Armo. She told RT’s host Bart Chilton what 2019 held in store for different sectors of the US economy.
If a person comes to a store to buy something, and sees an American-produced branded item for $2 and the same item for $1, but made in China, he would have a choice of what to buy, Armo points out. But if the prices are the same for both, one is poised to go for familiar brand, meaning that in any case you will pay more.
“What it [trade war] is doing is that people are being forced to pay more to buy American,” Armo said. “Chinese people truly believe that America cannot live without Chinese products, because they are so cheap. That’s part of the reason why they are hanging on.”
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