China has announced new tariffs of 84% on the US, in a response to Donald Trump’s trade war that will raise fears of further escalation.The Chinese ministry of finance said it will impose 84% tariffs on US goods from Thursday, up from the 34% previously announced, according to Reuters.
(www.axios.com)
🤜 FIGHT! FIGHT! FIGHT! 🤛
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (67)
sorted by:
China. Can't. Win. A trade war. Against. The United States.
We buy something like ten [EDIT: five] times the amount of crap from them as they buy from us. Their tariffs on our stuff will never have the effect on us that our tariffs will have on them.
And, as stated above, they don't have the capability to feed their own population long-term.
China's leverage is in the cost of medicine and consumer goods. I don't think China has much supply elasticity, though. Their economy is overbuilt and they can't have people and factories sit idle, which means they have to produce and sell it somewhere. We have the biggest market and the most affluent consumers. It will be hard to replace us. Meanwhile, we can source scissors from anywhere as a substitution.
I'm old enough to remember when consumer goods said made in Japan, Korea, Taiwan, and Hong Kong. NEVER did they say China.
Now they almost never DON'T. That can change yesterday AFAIC.
What they purchase mainly from us is food. What if President Trump cuts off those exports for a year? China is in a very bad position and Xi had better figure it out and quickly lest he has a billion starving Chinamen storming his offices.