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US imposes 104% tariffs on Chinese goods effective immediately
(m.economictimes.com)
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this post was submitted on 08 Apr 2025
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An attack on China is an attack on US allies that supply China with resources. Australia hasn't fully woken up to this bastard act with our little 10% tariff and history of acting like a 51st state but we might be as fucked as Canada before sanity returns to the US.
China can't beat the US in this battle but all they have to do is endure the pain and wait for the US to lose interest. So ultimately China wins. But we all lose through this stupidity (probably shouldn't really call it stupidity as it diminishes any bad intentions at work here. There are people in this admin who should understand the consequences). Fuck Trump and his administration and the Republican party and their voters and the apathetic fuckwits who didn't vote. No single person is responsible for this and no single person can fix it. People need to man the fuck up and fix the shit they have unleashed.
I imagine China can not only win this but come out with the worlds reserve currency.
I disagree on that. The Euro is the second most widely held currency and is a more obvious choice. Working constructively with China is economic reality. Submitting to them is unnecessary. This isn't post-WW2. I don't think we need a single reserve currency.
There is no doubt China is going to benefit greatly. A huge number of developing countries have been deserted by the US that first walked away from soft power through US Aid then penalised the poorest countries with outrageous tariffs. China has been by far the smarter player.