The problem is that the US and China are the two largest economies in the world. Everyone else kind of orbits around them. Conflict between them will have a lot of collateral damage.
Comment on Trump Threatens 104% Tariffs on China as the Mad King Plays Chicken With the Global Economy
finitebanjo@lemmy.world 1 week ago
TBH idgaf about USA tariffs on China specifically.
It doesn’t help either country but fuck China, so yeah.
NaibofTabr@infosec.pub 1 week ago
finitebanjo@lemmy.world 1 week ago
Yeah, thats fair, but China allowed free reign with no consequences for all their modern atrocities and hostile actions including US election interference would also give the world collateral damage.
avidamoeba@lemmy.ca 1 week ago
Lately the US has been working overtime to destroy its own China-bad propaganda and our good will to go along with it. We’re probably gonna go with “fuck the US” this time around.
finitebanjo@lemmy.world 1 week ago
It’s shorter to just call China-bad propoganda as “journalism.”
Litebit@lemmy.world 1 week ago
China sales to US will remain the same as there is no alternatives. This was just a way for trump to tax American but make it look like other countries are being harmed. In fact many companies in china and other countries are making record sales to US due to stockpiling. happening in US.
In truth, Trump Threatens 104% GST tax (tariffs) increase on American for buying imports from China. China is not paying the tax, americans are.
finitebanjo@lemmy.world 1 week ago
You’re arguing against statements I haven’t even made lmao
Bo7a@lemmy.ca 1 week ago
You have a hard time tying your shoes while thinking about something else, don’t you?
Brainsploosh@lemmy.world 1 week ago
Is this a cut off your nose kind of thing again?
The way I see it: US consumer wants Chinese thing, pays China. With tariffs US government goes: “Hey, we don’t do that over here, pay me” - US customer also pays US government.
US customer ends up paying more for the same thing.
Now to the tricky part:
If economic theory works and thing costs what it’s worth, this means tariffed consumer is overpaying and leaving margin for others to fill. A domestic producer could then make a profit even when not as efficient as the Chinese, cool.
But, a lot of things China does aren’t currently made in the US, factories have to be built, some things won’t be viable at higher prices (maybe not many enough would pay $99 for a phone cover), and some things will never be able to be produced cheaper (no child labor, expensive adult labor).
So it would take quite some effort to first figure out if it’s viable to produce in the US and then to build the production in the US. It also takes quite a lot of time, years probably. Will the tariffs stay that long? If unsure, why risk wasting the effort. If sure, how will the years of punishing prices affect consumers?
Litebit@lemmy.world 1 week ago
that is why I think this tariff thing is not an attack on other countries but just a way for trump to collect more tax from americans, since they have no choice but to buy from china.
finitebanjo@lemmy.world 1 week ago
You talk a lot about Economic Theory considering you completely ignored one crucial detail: consumers won’t buy it if the price gets high enough. This could effectively become an Embargo, and it should because Fuck Chinam
Brainsploosh@lemmy.world 1 week ago
I seem to have mentioned this.
If that is the case it’s kind of an own goal; China is still free to trade with anyone, including US consumers that pay more. It’s just the US consumers gwtting worse access to thw products they want. Closer to a self embargo, no?
It’s like a much more expensive “Buy American” campaign, only it also makes the US utterly untrustworthy in any future trade deals or investments.
finitebanjo@lemmy.world 1 week ago
If the USA embargoes have no effect as you claim then certainly a lot of hooting and hollering over the last century about the exact topic seems pointless in hindsight.
Litebit@lemmy.world 1 week ago
Consumer will still buy it if it is essential/critical. If it gets high enough they will travel out of chine to buy it. Example people travel overseas for medical treatment/surgery. Because even after including ticket price and hotel stay it is still cheaper overseas than in US.