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Trump threatens additional 50% tariffs on China over retaliatory levies (www.theguardian.com)

submitted 1 week ago by [email protected] to c/[email protected]

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Donald Trump has threatened to impose an additional 50% tariff on imports from China on Wednesday unless the country rescinds its retaliatory tariffs on the United States by Tuesday.

The news comes on the third day of catastrophic market falls around the globe since Trump announced his trade war last Wednesday with tariffs on the US’s trading partners.

As part of that move the White House announced it would impose a 34% tariff on Chinese imports. In response, Beijing announced a 34% tariff on US imports.

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[–] [email protected] 8 points 1 week ago* (last edited 1 week ago)

Oh god how stupid. China has built an entire transhipment network. China was never going to pay those tariffs anyway. Instead, US companies that desperately tried to follow the rules are still stuck shipping from China. So what happens next? US companies will now have to beg China access to these networks. You thought Tik Tok was a national security issue? When all your goods and services imports are controlled by China...

Worse the canceling of the deminis clause was only against China and HK. But both those companies have transhipment logistics networks across the globe. We are about to see millions of packages a month from dozens if not a hundred different countries. They're asking for China to unleash what it's spent the past 5 years building up.

The Trump government doesn't understand. US previous actions created this. Perhaps if they did this immediately, China couldn't respond. But China has been courting the global south for decades to set up a resilient logistics network for literally this reason. If you ever wondered what BRI is about, well your about to find out.