China Raises Tariffs on US Imports To 125% (nytimes.com)
- Reference: 0176999805
- News link: https://slashdot.org/story/25/04/11/0840215/china-raises-tariffs-on-us-imports-to-125
- Source link: https://www.nytimes.com/2025/04/11/business/china-tariffs-125.html
> The announcement by China's State Council came after Trump administration officials clarified on Thursday that China was now facing a minimum tariff rate of 145% on all exports to United States. China said its new tariffs will take effect on Saturday.
China said it plans to ignore any further increases announced by Washington from here. [2]Bloomberg :
> In a statement following China's retaliatory move, the Commerce Ministry said Washington's repeated use of excessively high tariffs has become little more than a numbers game -- economically meaningless and revealing its use of tariffs as a tool for bullying and coercion. "It's become a joke," the ministry said.
[3]CNN :
> The trade war between the world's two economic superpowers has tanked international markets and fueled fears of a global recession.
>
> "There are no winners in a trade war, and going against the world will only lead to self-isolation," [Chinese leader] Xi Jinping told Spanish Prime Minister Pedro Sanchez in Beijing on Friday, according to state broadcaster CCTV.
>
> "For over 70 years, China's development has relied on self-reliance and hard work -- never on handouts from others, and it is not afraid of any unjust suppression," Xi added.
[1] https://www.nytimes.com/2025/04/11/business/china-tariffs-125.html
[2] https://www.bloomberg.com/news/articles/2025-04-11/china-raises-tariffs-on-us-goods-to-125-in-retaliation
[3] https://edition.cnn.com/2025/04/11/business/china-xi-jinping-first-comment-trade-war-us-intl-hnk
On the plus side.. (Score:2)
I am looking forward to cheap corn and soybeans for the rest of the year!
Re: (Score:2)
Fooled you (of course you were joshing), but in order to prevent a good portion of U.S. farmers from going out of business, the Fed. Gov. will have to give them agricultural subsidies. Guess where the money will come from? They went from $4 Billion at the beginning of la Presidenta's first term to $20 Billion at the end. And this time around, they will cost nearly $40 Billion (inflation, bigger cuts by China, and other countries). That will increase the national debt because la Presidenta has no economics t
Insider tipline (Score:1)
I sure hope Trump calls and gives me a heads up like last time before he announces dropping tariffs. Standing back and standing to buy more call options at a moments notice.
Pissing contest (Score:5, Insightful)
Seems two dictators are having a pissing contest.
Re: (Score:3)
Seems like we have one dictator who started bullying the world, and the other is just responding - and the response has so far been quite measured.
We also saw the one who started it [1]deflate and fold already when faced with consequences [alternet.org] two days ago.
He'll deflate and fold here as well.
[1] https://www.alternet.org/trump-capitulated/
Re: (Score:2)
Yes, blame the messenger because you don't like the news. Helps every time :)