President Donald Trump started a trade war with China, and Minnesotans are now paying their share of its costs.
The Trade Partnership in Washington, D.C., estimates that Minnesota families will pay an additional $767 a year for everyday items as a result of Trump's tariffs on imports from China.
Creative Lighting in St. Paul will be passing on to its customers the new higher costs of fixtures imported from China. Minnesotans will face other price hikes: on clothing, furniture, electronics, flooring, auto parts and medical devices.
Prices on many goods sold at Target and Best Buy will go up. China is the largest supplier of goods sold by Target to Minnesota consumers. Walmart will raise some prices to pay the tariffs on Chinese imports.
Jamie Beyer of Wheaton says her farm has lost $230,000 in the China trade war to lower soybean sales. With China buying elsewhere, U.S. soybean prices are at a 10-year low. The Trump administration pledges to pay American farmers $27 billion to make up for their lost sales — a transfer of money from Americans taxpayers to American farmers.
In last Wednesday's trade negotiations in Shanghai, China took command. It started slow-walking the talks to let the costs of the trade war mount up and up for President Trump. As is his wont, Trump responded with escalation, imposing a new tariff on more imports from China.
Why do we need a trade war with China?
In short, China doesn't play fair. The most serious harm to Americans has come through the theft of intellectual property — not paying Americans for their ideas, inventions, skills and quality, and making cheaper knockoff goods to take market share away from American companies everywhere around the world.