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:
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.