If U.S. products get too expensive in China, American farmers are worried about losing a key market for things like chicken feet that people in many other countries don’t eat but are hugely popular in China.
Chad Bown of the the Peterson Institute for International Economics explains the trade deficit and foreign investment “open loop” system. But wait, there’s more!
Additional taxes on European wines and winemaking supplies will challenge American businesses that sell EU wines — and domestic wineries that buy bottles or barrels from abroad.