SINGAPORE -- Consumers in the U.S. are the main victims of President Donald Trump's tariffs on Chinese goods, according to Carlos Gutierrez, who served as Secretary of Commerce under former President George W. Bush. The sanctions could lead to inflation, and the trade war is unlikely to end in the near future, Gutierrez said.
Speaking in a phone interview with the Nikkei Asian Review, Gutierrez explained that the "first impact of such far-reaching tariffs will be inflation," adding that a large portion of imports from China are intermediate goods used by manufacturers in the U.S. "We will see [price] increases in consumer products, iPhones, other electronics goods, shirts, you name it. That will be the result of these tariffs," he said.
