US President Donald Trump has threatened China with a 104 per cent tariff, if Beijing doesn’t drop its 34 per cent tariff on US goods.
President Trump announced the plan on social media, as stock markets across the world continued to plummet.
What’s next?
Beijing has not yet commented on the president’s threat.
But US industries will surely appear by magic, immediately and without any prior planning, to fill the gaps. All the government needs to do is make it incredibly painful for anyone to do business with anyone.
Everyone knows he’s gone in 4 years and so making a massive investment that completely depends on Trump’s tariffs being in place would be economic suicide.
So we get all of the short term market shock without any of the growth. Another masterful move by our orange in chief.
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Ronnie Jackson, his first term doctor, said Trump had great genes and could live to 200.
❌ incentivizing us industry ✅ impoverishing us citizens
Even if that did happen, the next step is keeping the prices of goods made in the US cost competitive. Wages in the US are far higher, so everything would STILL cost more.