GREAT FALLS, MONTANA- The U.S. tariffs on $34 billion worth of Chinese goods began Friday, July 6.
According to Quad Cities Investment Group Advisor Mark Grywacheski, the tariffs deal with information technology, medical instruments, and car parts.
According to Geoff Raby, Australia's former Ambassador to China, the trade war will not stop either, as China is threatening to impose more tariffs on U.S. goods. Grywacheski says China will target the U.S. agricultural and manufacturing industry, mostly dealing with soybeans and SUVs.
Another $16 billion of U.S. tariffs are expected to go into effect in two weeks. President Donald Trump also said he would consider adding more tariffs on $500 billion in Chinese goods, if the country retaliates.
"Let me tell you, getting along with Russia and getting along with China and getting along with other countries is a good thing," President Trump said Thursday, July 5 at a rally in Montana. "It's not a bad thing. It's a good thing."
President Trump said he will meet with Russian President Vladimir Putin later this month.
Canada is also imposing tariffs on American imports. Monday, July 9, Grywacheski discussed what items the Canadian government is targeting, and whether these tariffs are having a large impact on the American economy or not.
Your Money With Mark airs live on Good Morning Quad Cities every Monday between 5 a.m. and 5:30 a.m. To live stream our newscast from our website, click here.