TAMPA, Fla. (WFLA) — Cheri Hudson owns clothing store Imagine That!!! in South Tampa. It has been her business for 25 years. She is a supporter of President Trump’s trade policies.
“I trust Donald Trump. It's only going to be a matter of time. The tariffs are fair. America has to be equal with the others,” Hudson said.
Similar to many shops, she sells items that are made in China. Currently, the United States and China are in an escalating trade tit for tat. On Friday, China increased its level of tariffs to an unprecedented percentage on U.S. goods, days after President Trump did the same against the foreign country.
Chris Jones owns his own firm while also working as an instructor with USF's economics department. He warns shoppers to avoid changing spending habits for now.
“To overreact in regards to their purchasing or their savings could create dynamics in the marketplace that would actually generate a bigger problem than just continuing to live your life and do what it is that you would ordinarily do,” Jones said.
The economics expert also said not to expect immediate impacts on prices from this week’s tariff’s update.
“It's for things that will be produced moving ahead. So, if we feel any impacts from this, we are probably not going to feel it before the summertime."
Meet the Press Moderator Kristen Welker said the economic uncertainty the tariffs are causing is worrying some in Washington.
“Publicly, a number of Republicans are just standing firmly behind President Trump. Some of them are expressing concerns about what this could mean for the broader economy. Privately, we know Republican lawmakers have been reaching out to President Trump this week urging him to hit the pause button,” Welker said.
Economists and political insiders are also wondering when and if both countries will come to the table to talk.
“It's not even clear the U.S. and China are even talking right now. So, to some extent, there's no end in sight,” Welker said.
As for Hudson, she's hopeful both countries will negotiate a lower trade deal to avoid sticker shock.
“Six months to a year, I think it's going to be amazing,” Hudson said.
Meet the Press airs on News Channel 8 every Sunday at 10 a.m.