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Trump gives China one day to end retaliations or face extra 50% tariffs (arstechnica.com)

submitted 8 months ago by Deceptichum@quokk.au to c/world@quokk.au

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Tech companies' worst nightmare ahead of Donald Trump's election has already come true, as the US and China are now fully engaged in a tit-for-tat trade war, where China claims it expects to be better positioned to withstand US blows long-term.

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[–] rhvg@lemmy.world 8 points 8 months ago (5 children)

What does China need from the US anyway

[–] Auli@lemmy.ca 2 points 8 months ago (1 children)

Access to the largest market in the world. Its the reason everyone is still trying to get the tariffs taken off. America consumes a shit ton and people want access to that.

[–] shawn1122@lemm.ee 6 points 8 months ago* (last edited 8 months ago)

China was smart by creating their own versions of all the services the US offers.

The only reason the US is the nation that holds the most purchasing power in the world (20% of global purchasing power) is because it's a net exporter of services and much of the world respects its intellectual property.

The minute people start wiping their asses with US IP, it's game over.

Why can't there be a EU/Canadian/South American etc version of Uber, Netflix, YouTube, App stores, Visa etc? Even if the world moves away from their services just on the basis of principle, it will have an enormous impact.

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