The White House said China is now facing up to a 245 percent tariff on imports to the U.S. “as a result of its retaliatory actions,” another escalation in a trade war between the world’s two largest economies.
The top potential tariff is higher than the previously stated 145 percent and was referenced in a fact sheet published by the White House late on Tuesday.
It accompanied an executive order signed by President Donald Trump that launched an investigation into the “national security risks posed by U.S. reliance on imported processed critical minerals and their derivative products.”
Chinese foreign ministry spokesperson Lin Jian was asked about the 245 percent rate at a press briefing on Wednesday. “You can ask the U.S. side for the specific tax rate figures,” Lin said, China News Network reported.
“This tariff war was initiated by the United States, and China’s necessary countermeasures are to safeguard its legitimate rights and interests and international fairness and justice, which are completely reasonable and lawful.”
Trump imposed a 10 percent tariff on imports from all countries. He has temporarily paused additional “reciprocal” rates set individually for each country depending on the trade barriers faced by the U.S. to allow time for negotiations on new deals.
The exception to that pause is China, which is facing increasingly higher tariffs from the U.S. and has responded in kind, among other countermeasures.
This week, China imposed more export controls on rare earths, which include materials used in high-tech products, aerospace manufacturing, and the defense sector.
Despite the eye-watering tariffs and tough rhetoric, both the U.S. and China have said they are open to talks on trade, though further tit-for-tat retaliation is likely in this conflict between two great powers.
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Trump is the dumbest piece of human turd. This is beyond stupid.
If the Republican administration wanted to win a trade war against China they could have really used some allies, to make sure they had equivalent size as a bloc. However they preferred to start a trade war with 182 fronts at once.
Those penguins didn’t even send someone to negotiate. They would have been useful allies.
How many times is this going to be relevant?
Does this even matter?? The chilling effect of 245% vs 145% or even 45% has gotta be pretty marginal.
That was what the finance minister of China said. After 125% of tariff on American imports, any additional tariff isn’t not going to have any effect so they’re going to stop playing the game
Instead, they just banned exports of materials of tech & EV, so that’s already a tax of infinity plus two!
Just wait until it’s over 9000!
I feel like pretty soon he’ll announce a tariff of infinity plus one.
just make it 100,000% already.
Apparently exports to the US accounts for 2% of China’s GDP.
The real question is how much US GDP is relying on Chinese materials and products. I honestly have no idea, but I’m sure that it’s more than zero.
And any meaningful investment in to the US, unless you already have manufacturing there, doesn’t seem like a smart move. Tariffs (and policies in general) might change radically before the ink is dry on newspapers reporting latest changes.
It’s killing the board game industry right now.
Not to mention that building factories in the US will be quite expensive since a lot of those require machinery, building materials,… that also have to be imported. Even if you wanted to set up a whole domestic supply chain for those too you would need machines (and expertise) to make the first machines. Not to mention that it would take decades to setup all of that completely from scratch in the US and you would likely still have to import at least some raw resources.
Loads of rare earths are controlled by China (some estimates are 97% of all rare earth minerals), so yeah, I think they’re currently laughing their asses off at the US
It’s like a wildfire, every time I look at the news the numbers have doubled again!
He’s really a very hard poker player, I’m sure China are going to drop their hand every moment now!
Recall trump
It’s just wild to me continually seeing posts not understanding how this all works, and how it would play out. It’s like the people who thought China paid the tariffs…
The Constitution doesn’t provide a mechanism to recall the President, VP, a Senator or a Representative. Why do people think it’s easy to undo fuckwadary?
You can impeach him, but that would take the House and Senate to actually hold him accountable. The House needs to vote to do it.
The house is almost tied. That’s who passes bills, handles impeachments, some of the most powerful committees are.
218 Republicans, 213 Democrats.
Let’s see, take New York for example.
26 representatives total, 19 Democrat and 7 Republican.
5 of those were within 2 points last time their seat was up.
People who think that New York is blue, their vote doesn’t matter, skips the votes for the House and Senate and end up losing a Blue house seat but later complain that nothing changes are literally the fucking problem.
Every. Fucking. State. Is. Like. This.
Apathetic morons who don’t realize that the president is only held accountable by the other branch of government then wave their hands around when they did jack shit to help put people in place to, are the fucking problem.
District 3 of California was lost by 24,000 votes. District 22 was lost by 3,000.
Those two seats in the house, along with the close ones in New York, Jersey, Michigan, Illinois, Washington, hell every state… Are what makes the House of Representatives or breaks it.
So, if you think that your vote for president doesn’t matter, so you skip voting and let these other seats slip, yes, you’re a fucking moron who can’t grasp basic concepts of government that are taught in 4th grade.
And don’t get me started on the State House/Senates, how they define voting laws and voting zones and engage in gerrymandering.
Every fucking vote counts.
And until the country realizes it, and starts acting on it, we’ll keep getting the shit we deserve.
Ok, the private comments arguing that 24k votes don’t matter that’s eeeeuge!
California district 3 has ~780,000 people in it. There are more uninsured people in that district than the loss margin.
The 2.5% of the population which is too young to vote and 4-6% which are ineligible for other reasons still leaves more than enough to have changed that election.
Repeat that across 30-60 other districts across the US and now you have enough to impeach the Cheeto flavored fuckwad.
But apathy and laziness is just too fucking easy.
I voted in the Florida special election for our 1st district rep, knew damned well she’d lose. But here’s the important bit, she didn’t lose as badly as expected. And the other race was a good bit closer than expected.
We can call people like MTG an idiot, but even an idiot can look at an Excel sheet and see slippage. So yes, vote, even for a certain loser. They are paying attention.
If he breaks a law, he can be impeached.
There’s no recall vote.
I don’t think that the level of tariff on China matters all that much anyway once it hits the levels that it’s been raised to. Not many products where someone’s going to just keep paying a 145% tariff (for long, at any rate). Maybe more short-term disruption than otherwise, but outside of that, it’s increasingly just a number.
Of his tariff actions since taking office, I’d guess that this is probably the least concerning. You could argue the specifics, but there was support for at least some tariffs on at least some level of China, and much of the criticism I saw quoted from Republican legislators was that the tariffs needed to be on China, not countries like Canada or the world at large.
While the sentiment is appreciated, that’s not how that works, and also, there’s no fucking way Republicans would get rid of him. He’s cementing their hold on power.
Does Trump think he has the cards against China?
Does Trump think
Imma stop you right there
Yeah, he thinks he’s the master artist of the deal, nobody has ever made deals like him. Huge strong men have come up to him, tears in their eyes, saying “Sir! We’ve never seen a deal made like you made, ever!”
Or some shit.
Trump doesn’t care whether America has the cards as long as he is able to stay out of prison and make hundreds of millions grifting his base.
Don’t forget the insider trading while he’s playing global trade rollercoaster.
Though I’m equally sure that doesn’t work remotely as well as he and his posse figured.
This.
They carved out an exception for electronics because Apple said moving manufacturing to America wasn’t doable. What if China decides to just shutdown the factory making iPhones?
Or, more likely keep it going while stealing IP and selling the phones themselves
An embargo on China is crazy. I’m wondering just how long it’ll take before the real world catches up to the market.
Embargo work when they’re applied by a big economy over a small one, like the US over Cuba or North Korea. But they’re not effective when the difference on its size isn’t that big, like in the case of Russia, that found alternative markets on China, India and could keep moving their gas and oil to Europe with intermediaries. Now, the US trying to play that game with China is absurd. Maybe in the 90s could have worked, but nowadays almost every country in the world have bigger financial ties with China that with the US.
I heard today that an iPad made wholly in the USA would cost €30.000
test
Well, the only ones who are f-ed by this are the people in the US. I don’t hink anyone else is going to shed tears about this. Except maybe tears of laughter.
American importers, companies, and citizens pay every last cent of these tariffs. It’s an import duty. Not that it wasn’t evident, but Trump is thick as pig shit.
The worst bit is that that would be true at those tariff rates even if the supplier paid for it. it would just be priced in. In the end it is always the buyer who pays for additional costs of that magnitude. Virtually nobody has profit margins to just absorb that and those who do are selling luxury products and won’t reduce their profit margins either.
Just vote him out of office already surely that has to be possible
Our government is broken. First the House of Representatives have to vote to impeach a president. Then the senate has to vote to remove the president from office.
Trump was impeached by the, at the time, left leaning house of representatives in his first term but the right leaning senate didn’t vote to impeach him so he stayed in office.
At the moment, both the house and senate lean right so they aren’t likely to do anything. The supreme court also basically said the president is above the law so they aren’t likely to do anything either.
And by “left leaning” you mean “slightly extreme right than the other ones”.
left leaning house of representatives
*centre right
both the house and senate lean right
*from far right up to straight nazi nutjobs
Corrected for you.
It is not. Not until 2028, and that’s if we still have real elections by then, which is looking increasingly unlikely.
sweet summer child…
