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Trump's triple-digit tariff essentially cuts off most trade with China, says economist (www.cnbc.com)

submitted 3 days ago by [email protected] to c/[email protected]

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Summary

Economist Erica York warned that Trump’s 145% cumulative tariff rate on Chinese imports effectively ends most U.S.-China trade.

The increase includes a recent jump from 84% to 125%, plus a 20% fentanyl-related duty.

Despite a 90-day pause on most other tariffs, York said the U.S. remains on its most protectionist path since the 1940s.

In response, China hiked its retaliatory tariffs on U.S. goods to 84%.

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[–] [email protected] 23 points 3 days ago (1 children)

That’s why they care. China sells the US a lot of things and cutting off your biggest consumer isn’t good for your economy. China understands this and is now starting to dump their US debt via bonds so they’re not tied to US based securities. China will find another trading partner because Trumps a fucking moron and the other countries he’s isolating need someone to fill their trading gap.

[–] [email protected] 12 points 3 days ago (1 children)

China is doing a lot of things that are bad for a free world. They are not the friend of anyone who likes freedom or democracy. The world should isolate them for their better. However overall freetrade is good for everyone though and what Trump is doing to Canada, EU, Mexico ... is stupid.

[–] [email protected] 10 points 3 days ago

Yeah, but evil and reliable beats evil and stark-raving mad.