Original Story from OregonLive
By Luo Linquan
A memorandum signed in Washington D.C. on April 3 outlined possible 25 percent tariffs on a list of 1,300 Chinese products worth $50 billion. In turn, the Chinese government was forced to take countermeasures by announcing it would impose tariffs of 25 percent on 106 types of products from the United States worth $50 billion within 60 days if America’s plan becomes a reality.
A possible trade war causes worries across the U.S., from the East Coast to the West. That’s true in Oregon, which counts China as its largest trade partner and export market.
I am reminded of July 5, 2017, when Oregon Gov. Kate Brown signed the House Concurrent Resolution 39 passed both by Oregon House of Representatives and Senate. That resolution expressed Oregon’s willingness to enhance mutually beneficial economic and trade cooperation with China.
As one of the eight states that enjoy trade surplus to China, Oregon’s exports have expanded 55 times during the past 20 years and reached $4 billion annually. That hashelped create more than 20,000 local jobs and brought substantial profit to Oregon companies, especially integrated circuit manufacturers, timber producers and hazelnut farmers. Meanwhile comparatively cheap, quality products imported from China have not only helped Oregon maintain a relatively low inflation rate but also improved real purchasing power of local customers.