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China slaps retaliatory tariffs of 84% on U.S. goods in response to Trump

Visbek said:
Yeah, about that.

Trump is deliberately driving the global economy into a ditch. Meanwhile, Republicans are demanding big cuts to federal spending. If the Federal Reserve cuts interest rates, that will exacerbate the inflation caused by the tariffs.

Meaning this time, the US government is unlikely to provide much, if any, relief from the next recession -- which will make it much, much worse than recent recessions. The world will be lucky if it's a repeat of the 2008 recession.
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I already did what little I could to try to prevent that. Certainly much of the damage is already done.

I just hope that China stands strong, and Trump loses his momentum, and we can start injecting some sanity.

That's what optimism looks like for me today.
 
They’re so ready to follow this dumbass of a cliff.

You think throughout history, how could it be possible that so many people could be so stupid and do things that so obviously are disastrous…

Awesome I get to live through it… /s
 
Allan said:
This post won't age well.

Unlike America China has other trading partners that it's not engaged in a trade war with.

The US has none.
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timesofindia.indiatimes.com

Trump's 104% tariffs could cut down China’s GDP growth by 2.4 percentage points, warns Goldman Sachs - Times of India

International Business News: US President Trump's tariffs, now fully implemented, are projected to significantly impact China's economy, potentially reducing its growth by 2.4%. G
timesofindia.indiatimes.com timesofindia.indiatimes.com

It will cut into their GDP, but they were set for 5%, now that might be halved? Still growing. Meanwhile, our forecasts are looking much worse by comparison.
 
Bergslagstroll said:
Citizens and leaders all across the world are now cheering for China. That Trump makes a ruthless dictatorships into the "good guy".
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Ain't that a bitch, so I'm not the only one rooting for China.

Lets not forget what Trump is, a slimy, shady real estate mogul who filed for bankruptcy six times.

And we're suppose to trust this shyster with our country says the brain dead right.
 
Airyaman said:
timesofindia.indiatimes.com

Trump's 104% tariffs could cut down China’s GDP growth by 2.4 percentage points, warns Goldman Sachs - Times of India

International Business News: US President Trump's tariffs, now fully implemented, are projected to significantly impact China's economy, potentially reducing its growth by 2.4%. G
timesofindia.indiatimes.com timesofindia.indiatimes.com

It will cut into their GDP, but they were set for 5%, now that might be halved? Still growing. Meanwhile, our forecasts are looking much worse by comparison.
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No one escapes this unscathed. But the country that has a trade war with all other countries in the world has no options to mitigate the damage.
 
instagramsci said:
Yup. Huge employer where I'm at, even if it's not technically the largest
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Yep.

Between their retail stores, affiliates, distribution centers, supply chain vendors, etc.

They have tentacles everywhere.
 
Allan said:
This post won't age well.

Unlike America China has other trading partners that it's not engaged in a trade war with.
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Like who?

Who will buy $500 billion worth of Chinese products?

Allan said:
The US has none.
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Everyone who wants to sell to the US is going to have to open their markets to US goods.

And EVERYONE wants to sell to the US.
 
BirdinHand said:
Good for them.

Never thought I’d find myself cheering for China…but here we are.


Trump has the US acting like a school yard bully.
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China is going to attack the US ally in the Pacific within the next two years. Will you still be rooting for China then? You understand what Xi is preparing for, right? This isn't a good thing about to come. Sadly, with China, the AI war will be a real thing. I hope you are prepared to fight the cylons...
 
slavablueberryjam said:
China is going to attack the US ally in the Pacific within the next two years. Will you still be rooting for China then? You understand what Xi is preparing for, right? This isn't a good thing about to come. Sadly, with China, the AI war will be a real thing. I hope you are prepared to fight the cylons...
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I’m not fighting anyone.

My concerns are for my family and friends and protecting our best interests.

No more, no less.
 
slavablueberryjam said:
China is going to attack the US ally in the Pacific within the next two years. Will you still be rooting for China then? You understand what Xi is preparing for, right? This isn't a good thing about to come. Sadly, with China, the AI war will be a real thing. I hope you are prepared to fight the cylons...
Click to expand...
One of the main reasons they have not attacked our ally is that the US is their biggest market.
Countries generally do not start wars with their trade partners.
The Trump Admin has taken that card from the table, and now the dominos will start falling.
Congrats MAGA you maybe starting WW3 here.
 
BirdinHand said:
I’m not fighting anyone.

My concerns are for my family and friends and protecting our best interests.

No more, no less.
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Oh, dear. You are every bit as naive as a MAGA.

Sorry to say. But the threat of a real war against the cylons is increasing with Dump's Actions.
 
Allan said:
Countries that aren't currently in a trade war with the US. So all of them.
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They are either already buying from China or they don't want to. They are not going to increase their buying to the tune of $500 billion.
 
Mycroft said:
They are either already buying from China or they don't want to. They are not going to increase their buying to the tune of $500 billion.
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They are when they stop buying from America.
 
Mycroft said:
Like who?

Who will buy $500 billion worth of Chinese products?
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China sells all of its cars to the entire world... minus the US. They have the rest of Earth as willing trading partners. They'll weather the economic storm far better than the US if it comes to that. Let's not forget that China locked everyone in their homes for months with little real backlash.
 
www.ft.com

China hits US imports with additional retaliatory tariff of 50%

Beijing to match new duties imposed by Donald Trump with effect from Thursday as trade war escalates
www.ft.com www.ft.com
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China will levy an additional 50 per cent tariff on US goods on top of 34 per cent already announced, a tit-for-tat retaliation against US President Donald Trump’s tariffs in the escalating trade war between the world’s two largest economies.
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The across-the-board tariffs, which will take additional levies being charged on all US goods from Thursday to 84 per cent, will hit American exports of machinery, semiconductors, agriculture and other goods.
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China has called Donald Trump's tariff "raise", matching yesterday's additional 50% tariff imposed upon Chinese goods, now placing the ball back in Mr. Trump's court.

By now, I think few of us are surprised. It appears both countries - for now - seem to be vying with ending trade relations.

I suspect the American taxpayers, besides paying the additional tariff taxes, will need to bail-out the farmers again - as we did during Donald Trump's first term.

Woe is us.
 
This highlights yet another blind spot in Trump's frequently failing vision. Have you noticed how China is not reacting the same way the rest of our trading partners are? Xi Jinping doesn't answer to any democratic constituency. China has a notorious history, going back generations, of playing the long game, and not giving a **** about the potential short term suffering of a million or more of its citizens. If Xi Jinping wanted to be as petty and punitive as Trump, he could effectively shut down all commerce with the US, and the bulk of the immediate political suffering would fall on our political system - not his own. Long after Trump has been removed from office, Jinping will still be the ruling dictator in Beijing. We have everything to lose in this trade war. China has nothing to lose.
 
MamboDervish said:
This highlights yet another blind spot in Trump's frequently failing vision. Have you noticed how China is not reacting the same way the rest of our trading partners are?
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Actually, after China's rebuff it seems the EU voted to levy their first round (25%) of retaliatory tariffs against Trump.

I may start a separate thread on this.

MamboDervish said:
Xi Jinping doesn't answer to any democratic constituency. China has a notorious history, going back generations, of playing the long game, and not giving a **** about the potential short term suffering of a million or more of its citizens. If Xi Jinping wanted to be as petty and punitive as Trump, he could effectively shut down all commerce with the US, and the bulk of the immediate political suffering would fall on our political system - not his own. Long after Trump has been removed from office, Jinping will still be the ruling dictator in Beijing. We have everything to lose in this trade war. China has nothing to lose.
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I would argue - effectively neither of the two leaders must atone to the People.
 
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