President Donald Trump threatened to slap additional 50% import taxes on China, while readying negotiations with Japan and Israel, leaving markets struggling to grasp his intentions for his sweeping tariff plans.
There is a Bloomberg opinion piece (https://archive.ph/JKT85) that stated argues that China is so-called trade wars proof. TLDR: almost no day-to-day goods are imported from the US. The imports from the US are mainly things like cars, phones, etc. That is, tariffs will have a very small effect on the lower and middle classes in China. Compare this to the situation in the US: China is the main source for cheap items at Walmart, Amazon, etc. Tariffs can absolutely devestate the lower classes in the US.
So, it seems that China can easily win the attrition war against the US.
A loss in sales of Chinese goods in America will hurt China.
”Trade war resistant” is probably closer to reality. It’s a major disruption that’s going to hurt their economy, but they can probably adjust. China can always sell their goods to some other country.
In grand scheme, I suppose America is more dependent on China than China is on America. It’s going to be difficult for America to replace Chinese goods.
That is why many people i know outside china are buying more china products now to counter that.
Americans will still buy, actually. the people who will be affected are those Americans who buy from china cheaply and rebrand and re sell them with a huge markup. it limits their ability to mark up much.
That’s 104%, across the board, if they don’t completely capitulate by tomorrow. Instituted and affirmed by Republicans.
What a timeline we're in. Imagine if you told this to someone in 2000, watching them try to imagine how the world possibly could have gotten there. You just tell them "Yeah, you know the internet? And this guy named Mark Zuckerberg in school? You should really do something about that…"