Summary

Donald Trump lashed out at China for retaliating against his new tariffs, calling the country the “biggest abuser” of U.S. trade.

After Trump imposed an additional 34% tariff on Chinese goods, China responded with its own 34% tariff on U.S. products and suspended key imports.

Financial markets in both countries plunged, with U.S. economists warning of a potential recession.

Despite backlash, Trump defended his strategy, urging the Fed to cut rates and calling the tariffs a path to long-term gain. Critics warn of global economic instability and rising protectionism.

  • Lit@lemmy.world
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    7 days ago

    Did Trump dressed in his costume even say “thank you” “please” or “Xia Xia Ni” after telling china not to retaliate?

  • Grizzlyboy@lemm.ee
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    7 days ago

    The American arrogance is overwhelming. Presenting trade deficit as reason for tariffs, and then threaten other countries if they “retaliate”.

    Just die already.

    • BetaBlake@lemmy.world
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      7 days ago

      Please don’t equate what Trump does and says to “The American arrogance”

      Please and thank you

      • LadyAutumn
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        7 days ago

        You say as though the attitudes presented by Donald Trump are not emblematic of centuries of American exceptionalism and white supremacist christian nationalism. Donald is not the first fascist in America. Nor is he the first American to believe that America is the protagonist nation of the world and has the absolute authority to do what it pleases and harm whoever it chooses.

        Trump is a manifestation of American arrogance. He falls perfectly in line with the same ultra nationalist dogma that has plagued the nation since at least the time of Reagan, who was himself standing in the ideological shadow of Jim Crow and the confederacy. Trump did not just walk into office. He was elected. Millions of people support the exact arrogance and egotism he espouses. They support his claims of American exceptionalism. They voted him in on a platform of global American power, of the power to weaponize cruelty and suffering on anyone who falls outside the categories of white, cisgender/heterosexual, American, and Christian. Those who voted for him live and breathe American arrogance, and he is an endless supply of it.

        • Transtronaut
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          7 days ago

          Well said. On top of all that, he is the President of the United States of America engaging in that position’s role as leading representative in the country’s interactions on the global stage. Like it or not, that makes his arrogance American arrogance.

            • slickgoat@lemmy.world
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              7 days ago

              Actually, in every definition of the word, on the international stage, he most definitely speaks for you.

              If not, please go ahead and overturn the tariff bullshit.

            • 4am@lemm.ee
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              7 days ago

              He does though, it’s our problem even if we fucking hate it (which we certainly do!)

  • Master167@lemmy.world
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    7 days ago

    What did he expect to happen?

    That’s like complaining about someone punching back after you sucker-punched them.

    • PapaStevesy@lemmy.world
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      7 days ago

      Worse, it’s like complaining about someone punching back in a boxing ring during a fight that you scheduled months ago. And you’ve been shit-talking the opponent for decades.

  • Helvetica@sh.itjust.works
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    7 days ago

    When we’re in a bona fide depression he’s going to point to this as the reason he failed. “Look, if China, those damn Chinese, if the China had just let me grab them by the wallet, if they played nice, well we’d all by billionaires by now. I promise. The best billionaires. Believe me. It’s China’s fault.”

    • Pennomi@lemmy.world
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      7 days ago

      People don’t seem to appreciate how many instigators of WWII are also happening right now.

      • Lit@lemmy.world
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        US lands pretty much came out of WW2 untouched except Pearl Harbour, so US grew rapidly while rest of world has a lot of rebuilding to do.

        Warmonger Trump is now replicating that and so repeating history to start WW3. From forcing Ukraine to surrender to russia just like how Czechoslovakia was forced to surrender to nazi Germany and now Trump is pushing every country into protectionism trade wars.

        • futatorius@lemm.ee
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          7 days ago

          Chamberlain didn’t collude with the Nazis in looting Czechosolovakia after they held off the Germans for two years against all odds. What Trump is doing is far worse.

          And in WW2, the protectionism trade wars came a decade or more before the cynical appeasement.

          • Vikthor@lemmy.world
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            6 days ago

            On the other hand Trump haven’t forbidden Ukraine to fight back on their own(yet). Which is what west did to Czechoslovakia.

  • kn0wmad1c@programming.dev
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    7 days ago

    Trump defended his strategy, urging the Fed to cut rates

    Look, I’m not an economist. Nor do I pretend to have anything more than a YouTube education on how a country responds to interest rate shifts.

    But wouldn’t the fed cutting the rates plunge us directly into an immediate recession and worsen inflation? I mean, the fed cutting rates during COVID led to the inflation we’re now seeing, right?

    • 4am@lemm.ee
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      7 days ago

      Didn’t the fed cut rates way before COVID as well, and then after COVID they cut it way down to nothing?

      That’s part of the reason for the housing crisis- in order to correct, when rates went way up, no one is giving up their (relatively) low payment, their actually low interest rates; even if they’re gonna spend all their gains on a new place they’ll still have to pay a large markup on whatever’s left over (if they can even find a place because inventory is like 1/4th what it normally is, mostly estate sales and poor condition, etc)

  • makyo@lemmy.world
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    7 days ago

    Ha if he manages to get a rate cut in addition to his insane tariffs the USA is going to long for the inflation of Biden’s term.

  • skozzii@lemmy.ca
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    7 days ago

    Never thought I would find myself rooting for China as a Canadian from the sidelines…