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There goes the already remotely slim chance of any tariff negotiations. There is now a negative chance of China giving in.
China wins this war in a landslide.
USA needs China: walk into any American home, and it'll be minimum 50% China-related goods.
The reverse situation, American goods in Chinese homes, would have a tough time approaching 10%.
You know that isn't good for China either, right? It's the same twisted trade deficit logic that Trump is using. China's economy depends on selling those goods.
Yeah, except America isn’t the only country in the world
Certainly, but we're the biggest consumer economy by a long shot. Trying to replace roughly $600 billion in exports isn't an easy ask, especially since the next biggest economic bloc after the US and China, the EU, has been trying to move away from over reliance on China for years.
They may be trying to move away from China, but they're going to be moving back fast with these tariffs in place. Everyone loses in a trade war, but China is very much going to be the winner. No matter what happens after today, the US has lost it's bargaining position and value as a trading partner and ally.
Putin has won his war against the US, it's just a matter of how we fall at this point.
I don't disagree, I'm just pointing out that no one wants this and China isn't going to just magically replace their biggest trading partner overnight, which is why they were legitimately trying to work out a new deal originally.
Trust me, I fully agree the US will be the biggest loser from all of this.
Not to mention many of those Chinese products are designed by and built for American companies or nonamerican companies that sell in the US, which complicates things even further. This is much more complicated and much messier than simply looking at how many US goods there are in a typical Chinese household. Everybody loses thanks to Trump's idiocy.