• Jeffrey Goldfarb


Trade War | Tariffs | Buffalo, NY | New Orleans, LA | Certified B Corp 

Theoretically speaking, a large country can only successfully implement tariffs if it doesn’t spark a trade war. If it does, the economy sacrifices a massive consumer surplus for minimal producer surplus and government revenue. Trade wars are not something that can be won and usually end up hurting all economies involved. The issue with this current administration’s call for tariffs is the rest of the world has made it clear, they will retaliate.

While the current White House softened its initial stance on tariffs with its allies, its position with China has only strengthened, growing from $30 to $60 billion in import tariffs. The official stance will be made on Thursday March 22nd. This position can be traced back to Trump’s initial campaign promises. A protectionist trading platform is one position the current administration has been consistent on. In the case of China they are raising tariffs to punish the country for “improper technology transfer.”[1] Essentially requiring firms wishing to do business in China to hand over patents and technology first.

As mentioned before, this will protect some firms, but ultimately hurt American consumers. China has made it clear it will not accept a punishment without a form of retaliation. China made it clear that it will target the United States’ agriculture sector, a base that largely voted for Trump in the 2016 election.[2]

Not just agriculture, but according to CNN and NPR, Boeing currently sells nearly half its jets to China.[3] “In 2016, Boeing’s then Vice Chairman Ray Conner said Chinese orders support about 150,000 American jobs.”[4] Those jobs would be at risk if China retaliates.

Should consumers be punished for China’s practices? Not many countries will come enthusiastically come to the United States’ defense after the White House’s erratic behavior, originally proposing 25% tariffs on steel, which targeted our closest allies. Sparking a trade war with one of the world’s largest and fastest growing economies could have devastating effects. If the government wants to protect its producers looking to tap into the global market, there has to be a way to do so without implementing policies that harm the vast majority of Americans not involved with those operations.

Views expressed are not necessarily those of Raymond James Financial Services and are subject to change without notice. Information contained herein was received from sources believed to be reliable, but accuracy is not guaranteed. Past performance is not indicative of future results. There is no assurance these trends will continue or that forecasts mentioned will occur. 

Links are being provided for information purposes only.  Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed web sites or their respective sponsors.  Raymond James is not responsible for the content of any web site or the collection or use of information regarding any web site’s users and/or members.

[1] Wall Street Journal, March 22, 2018, U.S. to Apply Tariffs on Chinese Imports, Restrict Tech Deals

[2] Wall Street Journal, March 21, 2018, U.S., China Sharpen Trade Swords



5 views0 comments

Recent Posts

See All

Subscribe Form

(716) 842-0145

4549 Main St Suite 200 Buffalo, NY 14226

900 Camp St Suite 4C5 New Orleans, LA 70130

  • Facebook
  • YouTube
  • LinkedIn
  • Twitter

Raymond James financial advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Raymond James Financial Services is not affiliated with New Orleans Chamber of Commerce.

Securities offered through Raymond James Financial Services, Inc., Member FINRA/SIPC Privacy Policy</a/<a

Goldfarb Financial is not a registered broker/dealer and is independent of Raymond James Financial Services, Inc. Investment advisory services offered through Raymond James Financial Services Advisors, Inc.

Certification awarded by an independent nonprofit organization B Lab. This certification recognizes businesses that meet rigorous standards of social performance, accountability and transparency. The 2019 Best for the World lists are determined based on the verified B impact Assessments of Certified B Corporations. The B Impact Assessment (BIA) is a free Online tool designed to comprehensively measure the positive impact that businesses generate for their communities, customers, workers, and environment; administered by the independent nonprofit B Lab. Criteria can be found at The ranking may not be representative of any one client’s experience, is not an endorsement, and is not indicative of the firms’ or the advisor’s future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award/rating. B Impact and Best for the World is not affiliated with Raymond James.

We receive, collect and store any information you enter on our website or provide us in any other way. In addition, we collect the Internet protocol (IP) address used to connect your computer to the Internet; login; e-mail address; password; computer and connection information and purchase history. We may use software tools to measure and collect session information, including page response times, length of visits to certain pages, page interaction information, and methods used to browse away from the page. We also collect personally identifiable information (including name, email, password, communications); payment details (including credit card information), comments, feedback, reviews, recommendations, and personal profile. When you conduct a transaction on our website, as part of the process, we collect personal information you give us such as your name, address and email address. Your personal information will be used for the specific reasons stated above only. We collect such Non-personal and Personal Information for the following purposes: To provide and operate the Services; To provide our Users with ongoing customer assistance and technical support; To be able to contact our Visitors and Users with general or personalized service-related notices and promotional messages; To create aggregated statistical data and other aggregated and/or inferred Non-personal Information, which we or our business partners may use to provide and improve our respective services; To comply with any applicable laws and regulations. All direct payment gateways offered by and used by our company adhere to the standards set by PCI-DSS as managed by the PCI Security Standards Council, which is a joint effort of brands like Visa, MasterCard, American Express and Discover. PCI-DSS requirements help ensure the secure handling of credit card information by our store and its service providers. If you don’t want us to process your data anymore, please contact us at or send us mail to: 295 Main St Ste 914 Buffalo, NY 14203. We reserve the right to modify this privacy policy at any time, so please review it frequently. Changes and clarifications will take effect immediately upon their posting on the website. If we make material changes to this policy, we will notify you here that it has been updated, so that you are aware of what information we collect, how we use it, and under what circumstances, if any, we use and/or disclose it. If you would like to: access, correct, amend or delete any personal information we have about you, you are invited to contact us at or send us mail to: 295 Main St Ste 914 Buffalo, NY 14203.