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Trump vs China
(lemmy.ml)
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this post was submitted on 15 Apr 2025
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If only.. America holds 20% of global purchasing power so an export tax like that would result in needing to lower local interest rates to boost domestic productivity, which would decrease foreign investment, eventually weakening the local currency.
It would be hilarious if a country that exports very little to nothing to the US did it to make a point though. Totally on board with that.
Truth be told, I think the only thing we really produced in the US was the US dollar. Sounds like it's the number 1 export for the US, and trump just toppled demand for it.
Oh this makes so much sense, it really all boiled down to this.
China is already weakening their currency to keep their exports (worldwide) more attractive.