- cross-posted to:
- politics@lemmy.world
- cross-posted to:
- politics@lemmy.world
Summary
China has shrugged off the latest U.S. tariff hike, dismissing the Trump administration’s threats as a “meaningless tariff numbers game.”
Donald Trump’s move to impose tariffs “wiped trillions of dollars off Wall Street” and raised duties on foreign goods, claiming to bring back U.S. manufacturing jobs.
A White House fact sheet announced tariffs on some Chinese imports would rise to 245%.
China’s Commerce Ministry said the move “fully exposes the fact that the United States has become irrational” and vowed to see the trade war “through to the very end.”
I mean, that’s still a lot of extra cost and red tape, and the guys sewing labels will eventually start sewing everything else.
It rarely adds 200%, though. At 125% the talking head were already saying the US was in effective embargo territory, so it is kind of meaningless.