Tariff hikes will raise prices for US consumers

Gobal supplier: An employee at a food factory in Suqian, China. Business leaders say finding alternatives to goods from China will be challenging and expensive. — AFP

SHANGHAI: The United States’ latest move to raise tariffs on certain Chinese products threatens the stability of global supply chains and will ultimately pass the burden onto its consumers, according to market watchers and corporate executives.

The Office of the US Trade Representative (USTR) announced last Friday that it had finalised tariff hikes on selected Chinese products following a four-year review aimed at “strengthening protections for strategic industries”, despite opposition from multiple domestic sectors.