Trade Tension Results In Billions Of Dollars Of Losses Over 2018

Credit: Wochit
Published on December 28, 2018 - Duration: 00:40s

Trade Tension Results In Billions Of Dollars Of Losses Over 2018

According to Reuters, trade tension and tariffs between the US and China resulted in billions of dollars being lost over 2018.

The industries hit hardest by the ongoing trade war are the automotive industry, the tech industry, and agriculture.

Wally Tyner, an agricultural economist at Purdue University said that the US and Chinese economies could lose about $3 billion annually due to tariffs on soybeans, corn, wheat and sorghum alone.

US agricultural exports to China decreased by 42-percent during the first 10 months of 2018, dropping to $8.3 billion in value.

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