Shopping cart
Your cart empty!
A ban on rare mineral exports? What China could do next as Trump's tariff war ramps up
The severity cannot be overstated, if an additional 50% tariffs are levied on all Chinese goods it will decimate trade between the world's two biggest economies.
Remember, 50% would sit on top of what is already on the table: 34% announced last week, 20% announced at the start of US President Donald Trump's term, and some additional tariffs left over from his first term in office. In total, it means all Chinese goods would face tariffs of over 100%, some as high as 120%.
It's a price that makes any trade almost impossible. China is really the only nation in the world at the moment that is choosing to take a stand.
While others are publicly making concessions and sending delegations to negotiate, China has clearly calculated that not being seen to be bullied is worth the cost that retaliation will bring. The real question, though, is if the US does indeed impose this extra 50% tomorrow, what could or would China do next? It has said it will "fight to the end.
Amir Nisi
Creative and experienced content writer with 6+ years of experience lazy to create unique content strategy for News5 to turn website visitors into customers.
Related to this topic:
AI and Marketing: Unlocking Customer Insights
Feb 22, 2024
