Trade War: First Trump punches . . .but then China punches back :-(
Trump's stupid trade war: these Are the 128 U.S. Products China Is Enacting Tariffs On
Trump says he likes to "punch back" when someone annoys him. What he seems to have forgotten is that he isn't the only one who can "punch back":
The Chinese government fired back at the Trump administration’s tariffs on steel and aluminum on Monday by enacting its own tariffs on 128 American-made products including wine, fruit, and pork product
The tariffs were first suggested by China two weeks ago. They were originally intended to be a negotiating tactic to pressure the United States into backing down from the trade war. When that didn’t work, it decided to launch the retaliatory tariffs insted
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The tariffs were first suggested by China two weeks ago. They were originally intended to be a negotiating tactic to pressure the United States into backing down from the trade war. When that didn’t work, it decided to launch the retaliatory tariffs instead.
Trump seems to have forgotten that while he likes to "punch back", he isn't the only one that can do that.
DUH!
In a trade war, there are no winners.
Trump's idiotic trade war will result in higher prices for American consumers, be bad for American businesses forcing them to cut jobs, and in fact have a negative impact on the economies of our allies as well.
(And BTW, it will ultimately have a negative impact on Trump's beloved stock market...)
The tariff on pork will hit the hardest in farming areas, many of which voted for Trump, The New York Times reports.
120 products on the list will have a new 15% tariff, while 8 will have a new 25% tariff added, according to a list provided by China’s Ministry of Commerce.
The 25% tariff will apply primarily to pork products but also includes scrap aluminum.
(You can see the full list in the linked article)