Trade war taking a toll in Minnesota

The major stock indices soared Thursday on word that the U.S. and China would hold high-level trade talks next month. Despite investors’ optimism, the Trump administration’s trade war with China has already hit Minnesota retailers and consumers.

A new round of tariffs took effect this week, and the prospect of further hikes has some Minnesota retailers on edge.

As of Sunday, a 15 percent charge began applying to $110 billion of mostly consumer goods imported from China. Trump has also announced that existing tariffs on another group of $250 billion of goods will go up to 30 percent next month.

View the complete September 5 article by Riham Fishir on the MPR News website here.