China to impose 34% retaliatory tariff on all goods imported from the U.S.
China to impose 34% retaliatory tariff on all goods imported from the U.S.
Beijing's measures come in the wake of duties imposed by U.S. President Donald Trump's administration earlier this week.
- 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.
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.
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.
Especially in everything related to security, like army, navy, space. If we can't trust the USA when we need to use the weapons we bought, what's the use buying them in the first place.
This is really shooting thyself in the foot, you can't just walk back from that disaster.
I mean, you'd need a fair election to ever happen again for that.