72
Biden’s China Tariffs Are the End of an Era for Cheap Chinese Goods
(www.nytimes.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 18 May 2024
72 points (100.0% liked)
news
23575 readers
650 users here now
Welcome to c/news! Please read the Hexbear Code of Conduct and remember... we're all comrades here.
Rules:
-- PLEASE KEEP POST TITLES INFORMATIVE --
-- Overly editorialized titles, particularly if they link to opinion pieces, may get your post removed. --
-- All posts must include a link to their source. Screenshots are fine IF you include the link in the post body. --
-- If you are citing a twitter post as news please include not just the twitter.com in your links but also nitter.net (or another Nitter instance). There is also a Firefox extension that can redirect Twitter links to a Nitter instance: https://addons.mozilla.org/en-US/firefox/addon/libredirect/ or archive them as you would any other reactionary source using e.g. https://archive.today . Twitter screenshots still need to be sourced or they will be removed --
-- Mass tagging comm moderators across multiple posts like a broken markov chain bot will result in a comm ban--
-- Repeated consecutive posting of reactionary sources, fake news, misleading / outdated news, false alarms over ghoul deaths, and/or shitposts will result in a comm ban.--
-- Neglecting to use content warnings or NSFW when dealing with disturbing content will be removed until in compliance. Users who are consecutively reported due to failing to use content warnings or NSFW tags when commenting on or posting disturbing content will result in the user being banned. --
-- Using April 1st as an excuse to post fake headlines, like the resurrection of Kissinger while he is still fortunately dead, will result in the poster being thrown in the gamer gulag and be sentenced to play and beat trashy mobile games like 'Raid: Shadow Legends' in order to be rehabilitated back into general society. --
founded 4 years ago
MODERATORS
America / west is going to undergo hyperinflation.
2% normal? How about 10% and wages are going to continue to lag as poindexters and stat books remain suppressed. Employers use the lagging "industry standard" as an excuse to devalue their workers 8%+ a year while giving paltry crumbs claiming a simple Cost of Living raise.
for the quip about steel aluminum, the Steel tariff won't change much given that it's just matching the tariff steel got back in 2018 under Trump, the aluminum one though is going from 10>25% reletive to the one in 2018. Neither caused hyper inflation at the time.
The price of PVC pipe spiked really hard under Trump, and hasn't really recovered fully.
there were definitely some industries affected by it, but the inflation due to the tariffs were nothing compared to inflation due to Covid, neither being hyper inflation.
Literally all of that was before we decided to commit multibillions of dollars to a couple Nazi war efforts. These sanctions may be the same percentage, but they’re being implemented in an entirely different economic landscape.