- cross-posted to:
- economics@lemmy.world
- politics@lemmy.world
- cross-posted to:
- economics@lemmy.world
- politics@lemmy.world
- 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.
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Hopefully the political correction happens fast. The last two tariff wars created massive depressions. The Great depression saw a landslide democratic victory and it took Republicans 60 years to become relevant again. This could be good.
60 years ago there was no fox news and social media. These morons will forget in 2 months let alone 2 or 4 years.
The American electorate dumber than a bag of rocks
Talk to really old people sometime, we haven’t gotten dumber. Maybe more tolerant of dumbness.
I never said we got dumber we’ve been solidly morons since forever
Propaganda is a helluva drug
Rocks are smarter than fucking MAGA. Those neo-Nazi Russian supporting asswipes have a vacuum between their ears.
they had the southern strategy which were racists and bigots, it works.
They could drop all tariffs tonight, but the inertia of new trade deals being made to circumvent the US is pretty strong. It will keep strengthening while the US rots on the vine because they’ve been geopolitically exiled for having revealed themselves to be governmentally retarded.
It’s well understood by business people (at least by competent ones) that if you do something that makes your customer leave, they dont come back.
Can we please this time support the Communist and Socialist organizations that did armed protest in order to get those actual results? Can we please please learn from history and not allow the capitalist to continue to control the means of production? Because in another 100 years we’ll be in the exact same place with the ruling class trying to destroy the social safetynets that only served as temporary measures.
We need a real systemic change in who deciding how the economy is run and who’s interest it is meant to serve.
How long will we keep pretending a bunch of 20-30 year old white dudes in the 1700s had the best idea of how to run things?
Most people recognize that communism as an actual government has been trash, but do strongly support the Nordic model with capitalism coupled with socialist-lite pro worker policies. Free trade and capitalism makes so much money that you can’t do without it, but it does suck for workers because all the money ends up with the owner class. A pro people socialist-lite Nordic model helps everyone but it needs the money from free trade to afford it.
I do understand the difference between communism as an ideal model that only comes after socialism but that’s not how it is used in the real world.
I mean, you’d need a fair election to ever happen again for that.
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This was his response. Very sane. Very calm. Not at all unhinged.
…/s
So is it all caps these days all the time?
Such old man yells at clouds vibes
My experience with elderly relatives is that all caps is the only way they can read the screen.
The idea that China “panics” can only be sold to the most gullible.
Yes
Now that USA will spiral down to deep depression, it’s going to be much easier to get the people behind whatever plan comes next.
So, how about you build a new empire, invade neighboring countries, commit war crimes left and right, and start exterminating people who don’t fit your arbitrary criteria. Germany did that and everything worked out perfectly.
Oh, wait…
Well anyway. I’m out of ideas.
But the deep depression wasn’t entered “willingly”. Better justification for righteous anger back then.
People can be angry at Trump and that momentum could be utilized by the next candidate. Nah, sounds too elaborate.
You could just form an authoritarian dictator monarchy, and gun down anyone who disagrees. There are many countries that followed this path already.
Australia never had an empire, maybe it’s time?
there was the EMU and kangaroo dynasties,.
See also: Big Brucey
This emu is out there to conquer the whole world.
Not only that but he’s going to act like it’s an amazing surprise that came out of nowhere.
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If every country he puts tariffs on ends up implementing their own retaliatory tariffs, what would happen?
Look at Cuba. Now look at the US. Now look at Cuba again.
Okay, now image Cuba but without the public health care, housing, jobs programs, and mass transit.
I don’t wanna look away from Cuba 😭
The rest of the world starts building a new world order and economic system, one that will be a lot less advantageous to the USA than the one they just trashed.
I hope one of the first things to change is the ridiculous Intellectual Property laws the US forced on the rest of the world. Those laws benefit the US at the expense of everyone else.
You see, when the US pisses on the rest of the world, the rest of the world gets wet - But when the rest of the world will piss on the US, the US will drown.
Imagine everything currently produced on earth loses about a third of its efficiency/affordability and a large chunk of everything has shortages/unavailability for the next 30 years.
Now imagine with the loss of trade relationships diplomacy slowly returns to that of the dark ages and a new era of war begins.
Things we take for advantage are peace and prosperity.
So a tariff is like punching the other guy but also punching yourself, only the US is doing that to a lot of people so all the other countries get hit a few times sure but the US is beating itself black and blue.
As an example of that, Canada currently depends massively on trading with the US. US tariffs are devastating to Canada’s economy.
But, over the last week or so, the Canadian dollar has done extremely well against the US dollar because for all the damage the US is doing to Canada, it’s hurting itself so much more.
And I hope Canada can manage to find stronger trade partners with everyone else, especially the EU
It would be smart to diversify, but it’s going to take a long time, and it’s never going to be as efficient as just moving things across the biggest land border in the world.
Canada would have to build up the Atlantic shipping ports, and all the rail and highway connections leading to those ports to do more business with Europe. That’s going to be expensive and take a long time.
As an example, Australia is an isolated continent so everything entering/leaving has to go by port. Its largest port is the Port of Port Hedland in WA. That port handles more than 500 million tonnes of cargo every year.
By contrast, the biggest port in Canada is the Port of Vancouver which handles only 140 million metric tonnes, less than 1/3 of what Port Hedland handles. Australia has multiple other ports over 100 million tonnes too.
Death to folks who can’t afford to have their basic needs met.
I think they asked about the other countries, not US.
Did they? Unless they edited their comment, it sounds very open to me.
They will. If they don’t retaliate, it gives trump the signal that he can do whatever they want. We will hopefully slowly see a shift in the world order.
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Nintendo has already delayed preorders…
with the eggs
Both regular and Kinder
Gaming consoles declared weapons of mass destr(a/)uction incoming.
The Yanks are making enemies everywhere! Except Russia that is…
jokes on them … how they gonna tariff empty shipping containers ?
China buys American food, I think.
Farmers are super stressed and are at a higher risk of suicide. Voting for the Donvict was a sure way to make farming more stressful. Not only does the wealthy brat from the big city see you as a mark to exploit, he really doesn’t actually care about you losing all your export customers and losing your farm. He’s busy golfing at taxpayers’ expense.
they did during the soybean tariffs, most of them lost thier farms, or suicided. After things was lifted, China had no need to source soybeans from america anymore.
Who’s gonna benefit from all this extra taxes? Public services will sky rocket in 2025!
It will be used to bail out companies, who struggle to financially survive. The money will go to the higher managements though.
Ah, so no change.
The change is that companies will use this to commence the massive layoffs once again citing hard financial times but still pay the execs the same big bucks
Public services will sky rocket in 2025!
Elon Musk laughing
No they won’t.
With his embarrassing hysterical laugh
People with lots of money to buy low.
The people who pay taxes don’t have extra money to pay extra taxes, so they will not be able to pay extra taxes and no extra tax will be collected.
Nobody benefits.
Serious question.
They didn’t put this on Canada right? So shouldn’t prices in Canada stay relatively low?
Wouldn’t China want to buy more from Canada and vice versa?
Surely corporates won’t price gouge this time
/s
Just wait for the ridiculous and convoluted shipping paths to bypass tariffs.
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Give it a few days
They tariffed US. US finally responds. Now China wants to tariff that, ok. All I can say, Walmart is screwed if they don’t switch back to US first.
I can’t find details of what China’s existing tariffs on the US were? I’m not saying I don’t belief you, I’m interested in what they were - any chance you could link me to the details please?
According to MSN’s timeline of the tariff war, it started with Trumps first term where he enacted Tariffs on China in 2017-2018. So it looks like Trump started it.
Thanks. Yes, that’s the only reference I can find also
Let’s say you’re right, does china import more from USA or does USA import more from china?
USA generally using Chinese materials for their end products, and with trump he essentially destroyed profit for companies that don’t adjust prices, and rear ended customers that buy at newly adjusted prices
These companies won’t stop buying from china for materials, even with tariffs it’s the most reliable chain and is still cheaper than other alternatives barring India or maybe South Korea or Japan
But whatever, revenge is more important.
