The White House said China is now facing up to a 245 percent tariff on imports to the U.S. “as a result of its retaliatory actions,” another escalation in a trade war between the world’s two largest economies.
The top potential tariff is higher than the previously stated 145 percent and was referenced in a fact sheet published by the White House late on Tuesday.
It accompanied an executive order signed by President Donald Trump that launched an investigation into the “national security risks posed by U.S. reliance on imported processed critical minerals and their derivative products.”
It could be a billion % at this point and it wouldn’t make a difference. Trump had only one card and he used it already. This is purely performative and it looks desperate and pathetic.
“One GAJILLION BAZILLIONTY percent. It’s my most beautiful tariff. No one will ever beat it. They say it’s the perfect amount to win our trade war with Jai-nuh. No one will ever build a better wall than that. A trade wall. To keep the rapists and terrible people out. Like when Robert E. Lee kept the Asians out of Virginia. He said, ‘That wall, it will win this war for us, and Soviet Prussia will pay for it.’ And you know what? He was right. He was right.”
Seriously, how high do the tariffs go before we just ban products from one another? Save everyone the headache, already. It’s like the economic version of “I can name a number higher than you; you go first.”
China already said they won’t raise after 125%, but they aren’t removing them either, and are instead restricting rare earth exports and other measures.
China surprised that Trump can count so bigly.
Will probably see further movements from the PRC to sell off US treasury bonds and shifting more away from the dollar in general, along with tighter export restrictions on rare Earth. China already said they won’t keep increasing tariffs, but they seem dedicated to not backing down, and they have the Material means to actually resist US trade aggression.
What would be incredibly based is if the PRC starts paying off loans in Africa with its dollars, decoupling the Global South from the US even further. Gets rid of dollars and debt in the Global South, potentially freeing up new customers for goods produced in China and strengthening ties.
The notion that an entire system, predicated on contrarian powers keeping each other in check, is failling one time after another to rear one of its branches to over step its authority is mind boggling.
I think that’s called an embargo bro
