Friday there was a dramatic escalation in the trade war, this time in China. The country slapped a higher tariff on U.S. goods in response to President Donald Trump’s new tariff policies.Certain goods could get really expensive soon. China imposed a higher tariff on the United States, raising the tax on American goods from 84% to 125%, in response to the U.S. tariffs already in place. The moves sending markets into an initial tailspin Friday morning. Although, markets closed in positive territory Friday afternoon.As investors and businesses try to navigate this all, President Trump on social media claimed, “We are doing really well on our tariff policy,” calling it very exciting for America and the world.The President of China responded, warning, “China doesn’t fear economic suppression.” He added, “There are no winners in a tariff war.” These retaliatory tariffs between China and the United States are already impacting local business owners. WDSU reporter Shay O’Connor spoke with small business owners in Southeast Louisiana who shared the struggles they were running into.

NEW ORLEANS —

Friday there was a dramatic escalation in the trade war, this time in China. The country slapped a higher tariff on U.S. goods in response to President Donald Trump’s new tariff policies.

Certain goods could get really expensive soon. China imposed a higher tariff on the United States, raising the tax on American goods from 84% to 125%, in response to the U.S. tariffs already in place. The moves sending markets into an initial tailspin Friday morning. Although, markets closed in positive territory Friday afternoon.

As investors and businesses try to navigate this all, President Trump on social media claimed, “We are doing really well on our tariff policy,” calling it very exciting for America and the world.

The President of China responded, warning, “China doesn’t fear economic suppression.” He added, “There are no winners in a tariff war.”

These retaliatory tariffs between China and the United States are already impacting local business owners.

WDSU reporter Shay O’Connor spoke with small business owners in Southeast Louisiana who shared the struggles they were running into.