WASHINGTON, D.C. (KCAU) – The stock market rebounded a little Tuesday after Monday’s 617 point dive, but analysts remain concerned.
The White House and China engaging in a trade fight that experts fear could drag on for months.
China vowed Tuesday morning to ‘fight to the finish” accusing the Trump administration of starting the tariff war.
President Trump predicted that the U.S. will prevail in the fight over what he calls unfair trade practices, but economists say the tariffs mean consumers can expect to see higher prices on a variety of food and household goods.
“In the short run right now, the economy is suffering, producers are suffering and there’s a lot of anxiety, and our market does not like anxiety. And so that’s whats reflective right now in the stock market with prices being so low,” said Dave Swenson, the associate scientist for economics.
One pro-trade group is saying that this trade war could cost the average American family of four an extra $767 a year.