Summary

China has shrugged off the latest U.S. tariff hike, dismissing the Trump administration’s threats as a “meaningless tariff numbers game.”

Donald Trump’s move to impose tariffs “wiped trillions of dollars off Wall Street” and raised duties on foreign goods, claiming to bring back U.S. manufacturing jobs.

A White House fact sheet announced tariffs on some Chinese imports would rise to 245%.

China’s Commerce Ministry said the move “fully exposes the fact that the United States has become irrational” and vowed to see the trade war “through to the very end.”

    • Corkyskog@sh.itjust.worksEnglish
      0·
      1 year ago

      I am rooting for free trade. It’s stupid and inefficient for every country to try to manufacture the same goods.

  • riodoro1@lemmy.worldEnglish
    0·
    1 year ago

    What are americans going to do? Stop buying Chinese crap?

    Once amazon warehouses are empty the tariffs are gonna be „paused”. In trumps own words „he has no cards”.

    • Jimmycakes@lemmy.worldEnglish
      0·
      1 year ago

      No we are just gonna keep buying the cheap crap at the new tariff price because we have no financial literacy in this country and easy access to credit.

    • Vanilla_PuddinFudge@infosec.pubEnglish
      0·
      1 year ago

      There’s two ways this works out.

      1. Trump’s regime doubles down, never backs out and holds firm.

      Basically, you’re fucked. Chinese goods stop flowing, medical devices and equipment stop coming, tools and utilities stop being restocked. You’re on your own. Welcome to Thunderdome.

      1. Trump’s regime keeps this going until the backlash forces them to give it up.

      Then we capitulate to China, end up paying more overall but not an impossibly high figure for our items and life goes on… only a little less swimmingly.

      My bet is on #1. Stock up on ammo and food, road warrior.

    • lewdian69@lemmy.worldEnglish
      0·
      1 year ago

      This is completely unrelated but what’s with the subscript opening quotation marks? Is that a standard in a specific language? I don’t think I’ve ever seen that.

      • riodoro1@lemmy.worldEnglish
        0·
        1 year ago

        Iphones do it by default. At least for my polish-english mixed keyboard (which sucks fat cocks)

  • experiencetheworld@feddit.orgEnglish
    0·
    1 year ago

    China manufactures most of the products from US companies. As we also see now, Chinese companies promote the idea of buying from the manufacturer directly instead of the middle man like “Why buying the Nike shoes for 80$ if you can get them from us for 5$.”

  • notsure@fedia.io
    0·
    1 year ago

    within projecct 2025 is the alientation of all foreign trade due to “internal security”…should i quit now?

  • Dragonstaff@leminal.spaceEnglish
    0·
    1 year ago

    I can only picture Xi Jinping swimming through a pile of rare earth minerals like Scrooge McDuck, while a call from Trump rings, unanswered.

  • Crackhappy@lemmy.worldEnglish
    0·
    1 year ago

    Trump has already lost this war. The war he started because he’s stupid as fuck. He’s going to die before he sees the results of the chaos he reigns.

    • P00ptart@lemmy.worldEnglish
      0·
      1 year ago

      Have you seen him recently? Sometimes he neglects the orange deck stain, and his skin is grey and ghoulish. I swear if he didn’t have some necromancer keeping him alive, he’d have died 20 years ago.

    • ilinamorato@lemmy.worldEnglish
      0·
      1 year ago

      They’re not good, but they are easy to win…if you have all the manufacturing facilities and are okay with plunging your country into depression for the sake of absolutely no benefit whatsoever.

      Wait, what’s the definition of “win” again?

  • ilinamorato@lemmy.worldEnglish
    0·
    1 year ago

    So now we see whether Trump gives in or makes up bigger and bigger numbers. “900%! 1,776%! A BILLION PERCENT!”

    • wjrii@lemmy.worldEnglish
      0·
      1 year ago

      If you raise the tariffs to a billion percent then the US will get a billion dollars revenue for every $100 TV that comes from China! There will be so many millions of billions!!! Why wasn’t anyone smart enough to do this before???

  • Dead_or_Alive@lemmy.worldEnglish
    0·
    1 year ago

    Trump is going to loose this trade war in 6 months or less.

    We at about to have Covid level disruptions to our supply chain. Over 80 cargo vessels have canceled sailings. Think about the amount of goods we are not going to get in 3 weeks time. Yeah China will loose money and will be hurt by the trade war but they can find other markets.

    The USA is going to have epic supply chain disruptions. We wont have consumer goods or components for manufacturing within 6 weeks. It’s going to be a shit show unless Trump backs down.

    https://www.asiafinancial.com/transpacific-cargo-trade-decimated-by-trumps-tariff-war

    • sin_free_for_00_days@sopuli.xyzEnglish
      0·
      1 year ago

      China is not without a butt load of economic problems already. We are their biggest trading partner. I agree we, the US, is fucked, but China is about to be as well. There will be no winners here.

      • generichate1546@lemmynsfw.comEnglish
        0·
        1 year ago

        The soft power and better relationships China creates with other countries looking for a trading partner that is consistent… China playing the LOOOOOOONG game.

      • shawn1122@lemm.eeEnglish
        0·
        1 year ago

        China has a much greater tolerance for pain than the US for a multitude of reasons. China is also in a position to bolster trading relationships with other nations since it has not gone scorched earth like the US.

        The US holds disproportionate purchasing power for its size but it’s still has far less than 50% global purchasing power. China and most other countries will find other partners to trade with while the US isolates itself further.

        The only reason the US holds 20% of global purchasing power is because of mutually beneficial relationships with other countries. Purchasing power will slowly erode over time if Trump continues on his current path.

        The US is really overestimating its leverage here and, being a fairly overmiliatarilized nation, one can only hope it doesn’t turn to violence once things go south.