The Mainstream Media, when they aren’t talking about Russia, are obsessing over the trade war with China.
It's all over the news right now, but the media isn't telling you exactly how you're being impacted by it. Financial planner Bill Dendy explains just how your wallet will feel it.
“Tariffs will cause Chinese goods to appear more expensive to American consumers. So if something comes from China, it’s going to cost an extra 25% more,” Dendy said.
He also says there is another side to the equation.
“Even if the Chinese can manufacture it for less, if it hits our ports and goes up 25% just because it came to America, it makes the American option look more viable,” Dendy explained.
Dendy says, in the long run, that helps American manufacturers, and he adds that the longer President Trump sticks to his guns on this, the more likely China will be to make a deal.