The recent escalation of trade tariffs between the United States and China has sent a wide range of industries into a panic. With President Trump promising to correct the “broken and unfair” trade relationship between the world’s two largest economies, the U.S. and China, the future of some industries is uncertain
At the 2018 G20 Summit in Buenos Aires, Argentina, Trump sat with President Xi of China to discuss the trade differences and possibilities for a mutual resolution. After the December 1st meeting, both sides agreed to postpone any further tariff increases for 90 days as both parties work to address the problem. But, after this “cease-fire,” what impact should businesses and consumers expect?
In this post, we’ll discuss the “trade war” between China and the United States and how it will impact the auto parts industry. We’ll explain what AutohausAZ customers can expect in terms of both pricing and availability, and why regardless of the trade war, AutohausAZ is prepared to maintain its current prices.
One of President Trump’s campaign promises was to fix the growing trade deficit with China. In July, he imposed tariffs on a long list of Chinese-imported goods, which amounted to $34 billion of products annually. In response, China threatened retaliatory tariffs on imports of U.S. soybeans, which are the nation’s number one food export, totaling around $22 billion in foreign sales annually.
With both sides feeling the effects of the newly-imposed tariffs and growing concern from businesses and consumers who might be affected, the sides met in Argentina at the G20 Summit to find a mutual solution. The result was a temporary pause on imposing further tariffs or tariff increases for 90 days while each side looks for answers.
This armistice is a good sign for Chinese-American trade relations. It shows that both sides are willing to work toward a solution. But, while the market is stable for now, the futures of businesses affected by the tariffs are still in question.
Luckily for AutohausAZ customers, the “trade war” with China will have little to no impact on prices or the selection of parts in stock. The simple reason is that a large majority of our parts come from European manufacturers who are unaffected by the trade dispute between the U.S. and China.
While the trade relations of the world’s superpowers can have a ripple effect for other countries, we at AutohausAZ have been following the news at each step and are confident we can keep offering our same low pricing.