Revenge Of The Tariffs
On today's Planet Money:
Right now there is someone out there writing a new line in the Harmonized Tariff Schedule, a 35 percent tariff on Chinese tires. President Obama announced the new tariff last week, angering the Chinese, who quickly responded with promises to investigate tariffs for the U.S. poultry and automotive industry.
The tariff tussle has sparked fears of trade war between the United States and China. Arvind Subramanian, economist at the Peterson Institute, says the new tariff may add to messy trade relations, but it will have little impact on the marketplace. That's good news for poultry distributor Eric Joiner who says he depends on China for sales of his chicken paws.
Bonus: A Planet Money radio roundup.
We've been all over the radio this week, but just in case you missed us, here are some links to this week's Planet Money stories:
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