The White House said China is now facing up to a 245 percent tariff on imports to the U.S. "as a result of its retaliatory actions," another escalation in a trade war between the world's two largest economies.
The top potential tariff is higher than the previously stated 145 percent and was referenced in a fact sheet published by the White House late on Tuesday.
It accompanied an executive order signed by President Donald Trump that launched an investigation into the "national security risks posed by U.S. reliance on imported processed critical minerals and their derivative products."
Newsweek has contacted the White House press office by email outside of normal business hours for comment.
1. Saw this story early in the day, thought it was the usual nonsense so I ignored it.
2. Now late at night, maybe this is a sign that Trump is going to back off and call the Chinese. But he has to look tough so the plebs will continue to support him.
3. Like it or not, in my case I do not like it, as I think it would be better for China strategically to decouple fully from America, and maybe Europe, there is an expectation from the MAGA base and the financial markets.
The MAGA base wants a pound of flesh. The financial markets wants this trade war to end. What the MAGA base wants does not matter. They can replace Trump, and the show goes on.
The financial markets expect a resolution to the trade war and that must happen relatively soon. If not, then Trump is finished. It must happen by this month or next month.
The financial markets expects the obvious to happen with a full and hard decoupling, which is what some people in America want. It will be sort of a covid like contraction, but with inflation, in America. While in China, they still got considerable ammo to boost their economy.
Trump has weakened himself and America with this ill advised trade war, that has accomplished nothing.
I thought it was a clean divorce. I wish it was a clean divorce, lol.
