The White House said the higher tariff is as a result of Chinese retaliation.
  • wirebeads@lemmy.caEnglish
    70·
    8 days ago

    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.

    • Saleh@feddit.org
      24·
      8 days ago

      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.

      • HenriVolney@sh.itjust.works
        41·
        8 days ago

        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

        • zout@fedia.io
          11·
          8 days ago

          I’m Dutch. If China would keep on selling this stuff to us, I guarantee you someone from my country will find a way to sell it to the US. Something called “Dutch east India Company mentality”.

  • Cowbee [he/they]@lemmy.ml
    44·
    8 days ago

    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.

  • graycube@lemmy.world
    321·
    8 days ago

    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.

  • Etterra@discuss.onlineEnglish
    20·
    8 days ago

    This is so far beyond stupid that it’s wrapped around, overshot smart, and plunged into stupid again.

  • PalmTreeIsBestTree@lemmy.world
    18·
    8 days ago

    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).

  • millie@beehaw.orgEnglish
    16·
    8 days ago

    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.

  • Karyoplasma@discuss.tchncs.de
    141·
    8 days ago

    Doesn’t matter whether it’s a 80% (or whatever it was, basically changes on a whim) or 245%. There is no difference.

    • Frozengyro@lemmy.world
      11·
      8 days ago

      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. Also, this assumes there is a comparative replacement made in the US. But many machine parts have no analog or are proprietary, you must buy it from China or end that part of your business.

      • buddascrayon@lemmy.world
        61·
        8 days ago

        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.

        • Ajen@sh.itjust.works
          1·
          8 days ago

          Non-tarrif taxes would apply equally to foreign and domestic goods and can be ignored when comparing prices.

    • Cowbee [he/they]@lemmy.ml
      9·
      8 days ago

      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.

        • Cowbee [he/they]@lemmy.ml
          7·
          8 days ago

          Many, it’s all over the news. It seemingly changes based on emotion though, we thought it was 125% but it was really 145%.

          • TranquilTurbulence@lemmy.zipEnglish
            2·
            8 days ago

            I’ve seen a bunch of articles, each with just the latest number and a date. In order to make a nice graph out of all of them, I would need to set up some sort of webscraping project to pool the numbers together. I’ve also seen a bunch of articles that have other types of graphs and tables that don’t really answer my question. The data is out there, but it’s scattered all over the place.