When it comes to the United States of America, it’s famous for having a superpower in lots of things. However, the conditions of US economy is not suitable from last few months because of a trade war, which was started by president trump with China. The trade war was supposed to bring a reasonable and fair trade deal with Asia’s largest nation is becoming a global issue. Now the negative effect of such things can be seen clearly by everyone since the retail industry is getting hit because of this trade war. According to recent reports, major retailing companies in the USA are now requesting Trump to halt tariffs on China since it’s hurting their companies revenue.
More than 600 retailers have come together and signed a letter in which they have mentioned and requested Trump to stop imposing more tariffs on CHina. Great retailing companies, like Walmart, Target and Macy, have come together and signed this petition along with other retailers. They have mentioned the dire situation of the retailing industry in the USA. Since majority of the consumer goods comes from China, it’s getting harder for retailing companies to buy and sell products to US consumers. Another significant threat which these companies have mentioned is that many American who are working under them might lose their jobs.
Many farmers and middle-class people living in USA are dependent on retailing companies and if things go on at this rate then in the long term all of these people might lose their jobs, homes and lots of things. The letter signed by retailing companies might become a negotiation tool for the US government to sign a trade deal with China and end this deadly trade war. Even if things don’t go as planned for Trump administration, they soon will have to end this trade war since the rate of unemployment is already booming, which is another sign of great recession.
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