KIMT News 3 - Could a new round of tariffs be placed on China as punishment for their handling of COVID-19?
In an interview, President Trump said renewing tariffs on Chinese goods was an option he was considering. The news sent stock markets around the world into a downward spiral.
For analysis, KIMT News 3 spoke with Rayce Hardy, and economics instructor at Riverland Community College about a possible renewing of tariffs. He says China hasn't played fair for decades, but renewing a trade war in the middle of a pandemic is not a good idea.
"In the United States, consumers are at the risk of higher prices and any company that buys raw materials from China is at the risk of higher prices," said Hardy.
He also said he would like to see the government increase the amount of trade between the United States, Canada and Mexico. Right now, Canada and Mexico account for 1/3rd of our trade.