Submitted 11 months ago by BrikoX@lemmy.zip to globalnews@lemmy.zip
https://www.newsweek.com/china-245-trump-tariff-2060295
The White House said the higher tariff is as a result of Chinese retaliation.
Archived version: archive.is/…/china-245-trump-tariff-2060295
Disclaimer: The article linked is from a single source with a single perspective. Make sure to cross-check information against multiple sources to get a comprehensive view on the situation.
wtf they beat the Turkish car tariffs
it was the highest in the world, used to be, before trump
Lol we got a fentanyl tariff now🤣
A post 6 hours old. I give a 50%, that the number is outdated.
This headline is bullshit. The correct headline would be “Americans now face 245% Trump tariff on Chinese goods”. No need to spread misinformation about how tariffs work.
hahaha line go brrrrrrr
Welp when the debt defaults and everyone stops using American dollars or hold their gold here, then better hope we don’t all become forced to use crypto like El Salvador (which is probably the blueprint plan).
Maybe it is the plan…
Next stop: trade embargo
Nah, its not over 9000 yet.
We could call it the BFT 9000.
Yeah because they excempted the main imports so now they can jack it up to whatever to look tough even though they already conceded.
No, they walked that back almost immediately. The tariffs are still on everything.
Damn, I can’t keep up with this shit
China should just one up him in a way to completely fuck him: total embargo
“Oh yeah? Complete embargo PLUS ONE!!”
245% embargo. If you dare try to export things to the US, you’re getting 245% of it back.
Doesn’t matter whether it’s a 80% (or whatever it was, basically changes on a whim) or 245%. There is no difference.
It does make a difference. Let’s say a thing you need about once a month to run your business was 10 dollars from China. You can get a similar product in the US, but it’s 30 dollars. At 80%, it’s still cheaper to get from China, 18 bucks. At 245%, it’s now 24.50 to buy from China. Still cheaper than buying from the US, but now way more expensive.
I know these are made up numbers, but it isn’t that unusual for US made items to be 3-10x the price of making it in ‘cheap labor’ countries.
Your point is fairly good but you need to recheck your math. At 145% a $10 product will be $24.50. At 245% it’s gonna be $34.50. And that doesn’t even take into account additional federal, state, and local taxes.
It was 145% last, before the current rate, for those curious. It only further cements your point, it no longer has real impact, importing from China is just as dead.
These numbers are absolutely wild. Has anyone made a site for tracking this madness?
Title should be “Americans face 245% Trump tariff on China”
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.
I think they’ll most likely give out loans in USD and get repayment in Yuan. Eventually becoming the globally traded currency
Would be another strategy for sure.
He found a bigger number somewhere?
He’ll find another. I bet 420%
nah, elon’s holding that one with a death grip
It’s fun to watch just how incredibly fucked America is becoming on the global scale.
It’s being led down a path of isolation by a Nazi syphilis infected rapist who acts like a toddler at nap time throwing a temper tantrum because he wasn’t able to get the juice box he wanted.
It’s just such an asinine way to go down.
It fucks lots of people around the globe. I don’t see any fun this.
the US going down is objectively a good thing for most of the people on the world.
I mean, if the fuckwits had to win at least nobody’s going to have any fun.
“fun” like the pejorative “fun”, right?
You think they laugh at him? They probably laugh at him
I don’t think Chinese politicians actually laugh. They might outwardly chuckle but I doubt they find anything truly funny. My bet is their next move will be to take Thailand. They can’t directly invade but they can block exports. Trump is initiating World War 3.
This is so far beyond stupid that it’s wrapped around, overshot smart, and plunged into stupid again.
Gonna need more than eight bits soon.
The US is only 4% of the world’s population. We may have more US dollars than anywhere else, but 96% of the world is still a sizable potential market.
4% of the world population with 90% of the world wealth though…
According to the IMF, the US has 15% of the world PPP GDP, versus China’s 20%.
Remove the oligarchs from that calculation.
Just checked wikipedia and it says 30%.
With 90% of the world dollars(!). And dollars might soon stop being “wealth”. Thanks to Trump and his fellow idiots.
China US consumers
Only for goods that the US almost exclusively sourcing from China. So quite a lot of them.
While things like textiles and simple plastics could probably be on-shored to the US in relatively short time, many more advanced products will cost a lot more.
But the tariffs seem much smaller than China deciding to stop selling refined rare earths and products from them to the US and US allies such as the EU. That is going to make the US bleed big time.
Yeah, what’s with the EU getting hit with stray bullets? They are not imposing crazy tariffs on Chinese goods, apart from EV cars which are heavily subsidized by the Chinese government
A million bajillion percent.
You beat me to it by a mile.
Infinity percent No backsies runs away
Me first! Smoke bomb!
China: what you said + billinazillon elevteen! Pffft!
Indeed. It’s at the point where the exact number is irrelevant.
olafurp@lemmy.world 11 months ago
All of those numbers mean absolutely nothing. As soon as the price is higher than shipping it through Singapore it’s useless.