You are not remembering that quite correctly. A Giffen good involves two products, where one is substantially more expensive than another. I.e. Rice and Meat. An increase in the cost of rice would force poor people with limited funds to buy more rice and less meat because that's all they can afford (to compensate for less meat, they buy more rice to gain enough calories).
But in this case, it's the "meat" (i.e. chicken and pork) which would increase in price, driving people to other alternatives where possible.
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The answer to that depends on whether the person asking the question is a Democrat or Republican :)
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I suppose some businesses will benefit while others will suffer. But I'm still not sure if the trade war will be good or bad for America overall.
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Makes a lot of sense.
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Very impressive, congrats!
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You are not remembering that quite correctly. A Giffen good involves two products, where one is substantially more expensive than another. I.e. Rice and Meat. An increase in the cost of rice would force poor people with limited funds to buy more rice and less meat because that's all they can afford (to compensate for less meat, they buy more rice to gain enough calories).
But in this case, it's the "meat" (i.e. chicken and pork) which would increase in price, driving people to other alternatives where possible.