US Trade War Will Mean Higher Prices, Lower Sales and More Job Losses

US tariffs on Chinese imports will simply mean that American consumers have to pay higher prices for products down the road, an industry association leader said on Friday.

“We’re having some serious problems with this tariffs situation,” said Rick Helfenbein, president and CEO at the American Apparel and Footwear Association.

“This is disruptive to our supply chains, this is hurtful to our business,” he added.

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.