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)
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The Asian pride thing is a real thing. Look at the end of WW2. We had to drop a couple of nukes and then they still didn't want to concede. Only after the Emperor said, "That's enough" did the Japanese put down their rifles. China is so afraid of losing face to America in this situation that the tariff tit for tat will keep going until Xi says, "That's enough". There is a pain limit to which some folks can tolerate and China is just about there. Heck, look at Americans. We are paying three bucks for a gallon of gas and five bucks for a gallon of milk. But have you noticed folks are only grousing about it. They are still paying it and going off to work. Now, when those thi gs get to be around ten bucks a gallon, then the American people will rise up. We don't care about losing face the same as the Asians. We go straight to name calling and beating the piss out of the offender.
The problem is that this gives essentially the rest of the world a reason to cooperate against us - i.e. China can find other suppliers for things that they need due to the vacuum we have created by our tariffs. Similarly, they will find new and expanded markets for their exports due to those markets moving away from American goods.
After seeing who exports the most wheat around the world, you might be correct. America is #4 with Russia, Australia, and Canada rounding up the top three. But I wonder if President Trump would go to these three countries and say, "If you supply China with any wheat we will treat you like we are treating China". So there might be leverage that Trump might have that we, as regular Joe citizen, don't yet know about.
Japan even made a pretty good movie about the end of the war from their perspective, called "The Emperor in August" in English.
Don't worry, it doesn't portray themselves in the sense that they should have just kept fighting. Although it admits there were people saying that, it makes it clear that Hirohito knew Japan had lost and wanted to end it.