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China Now Faces 245% Trump Tariff (www.newsweek.com)

submitted 1 week ago by IndustryStandard@lemmy.world to c/progressivepolitics@lemmy.world

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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."

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[–] ClanOfTheOcho@lemmy.world 9 points 1 week ago (1 children)

"One GAJILLION BAZILLIONTY percent. It's my most beautiful tariff. No one will ever beat it. They say it's the perfect amount to win our trade war with Jai-nuh. No one will ever build a better wall than that. A trade wall. To keep the rapists and terrible people out. Like when Robert E. Lee kept the Asians out of Virginia. He said, 'That wall, it will win this war for us, and Soviet Prussia will pay for it.' And you know what? He was right. He was right."

Seriously, how high do the tariffs go before we just ban products from one another? Save everyone the headache, already. It's like the economic version of "I can name a number higher than you; you go first."

[–] Cowbee@lemmy.ml 4 points 1 week ago

China already said they won't raise after 125%, but they aren't removing them either, and are instead restricting rare earth exports and other measures.