Trump threatens China with added 50% tariffs if Beijing does not drop levies
www.scmp.com
As US president aims at China for responding with tariffs of its own and dismisses global market jitters, some on Wall Street voice concern.

So hes just determined to destroy the American economy i guess loool

  • soumerd_retardataire@lemmygrad.ml
    0·
    15 days ago

    Some graphs from https://x.com/BenjaminNorton/status/1909399503821848951 and https://x.com/RnaudBertrand/status/1909404626459541622 :

    «20% of China’s GDP is manufactures exports.
    65% of that is domestic value-added.
    20% of that final demand is from the US.
    Total exposure to U.S. demand is 0.2x0.2x0.65=2.5%. »


    Consumption (white) : food, etc.
    Intermediate and capital : oil, machines, etc.
    Others : transportation, etc.

    He also said that he apparently wants to increase the military budget by more than 12%(, from the current $890 billions)

    • PolandIsAStateOfMind@lemmygrad.mlEnglish
      0·
      15 days ago

      Out of serious things, war against Iran in 2019. I mean he was escalating in it first place and probably kicking and screaming when Pentagon people explained it’s not a good idea when Iranian air defense shot their 200million stealth drone with 60’s Soviet missile, but he did. He also ordered Soleimani murder to have the last word later. Also Bolton accused him of being way less hawkish and having more common sense than average Rep senator, but that says more about Rep senators than Trump.

  • OrnluWolfjarl@lemmygrad.ml
    0·
    16 days ago

    The difference between Trump and China, is that China was preparing for this trade war for the last 5 years, and even more so when they understood early in the elections that Trump was going to win. China got its economy ready for sanctions and tarriffs, became less reliant on imports from the West and forged strong economic ties with Asian, Latin American and African countries. Trump has just gotten into office, and without bracing first, he just started smashing things. Guess who’s coming out on top in this.

    Edit: by comparison Europe just assumed Trump would lose, and then assumed Trump would not impose tarriffs on them, despite clearly speaking about it for years. So here they are, having cut off their major energy supplier and then (literally) burning the bridge with Russia. Having imposed tarriffs on Chinese goods at the behest of the US, and still completely unprepared for the effects of Trump’s tarriffs. Yet, all they seem to care about is how to keep Ukraine’s funeral pyres burning.