Beijing's measures come in the wake of duties imposed by U.S. President Donald Trump's administration earlier this week.
  • China’s finance ministry on Friday said it will impose a 34% tariff on all goods imported from the U.S. starting on April 10.
  • The ministry criticized Washington’s decision to impose 34% of additional reciprocal levies on China — bringing total U.S. tariffs against the country to 54% — as “inconsistent with international trade rules.”
  • U.S. stock futures and European markets fell sharply on news of the reciprocal tariffs.

https://archive.ph/ZmcZJ

  • Echo Dot@feddit.ukEnglish
    9·
    12 hours ago

    The United States descends to the level of economic relevance as South Africa and the rest of the world continues as usual.

    Trade tariffs can work if they are used as a scalpel, If they are applied very precisely and explicitly they kind of achieve the desired effect. Trump is just wielding them around like a mallet and is repeatedly hitting himself in the groin while everyone stands at a safe distance away and watches with mild amusement.

    • merc@sh.itjust.worksEnglish
      1·
      2 hours ago

      In addition, tariffs need to be seen as a rational thing that will be kept in place for a long period.

      If Trump wants to bring manufacturing jobs back to the US, businesses need a minimum 5 year plan to buy or build factories, buy equipment, hire people, and so-on. That’s a huge investment and a big risk. If the tariffs are cancelled before the factory is finished and orders start coming in, the investors might be out the entire amount.

      Trump’s tariffs are utter chaos. They’re applied then removed, the value changes randomly. He’s putting tariffs on US military bases and uninhabited islands. In that kind of environment potential investors are just going to convert their money into gold and wait out the chaos.