Trade

China Announces Retaliatory Tariffs, Trump Completely Melts Down

JM Ashby
Written by JM Ashby

We knew that China would retaliate for Trump's upcoming tariffs on all remaining Chinese goods; tariffs that will be imposed in two tranches of about $150 billion on September 1st and December 15th, and now we know how they will retaliate.

The Chinese government announced this morning that they will impose retaliatory tariffs on $75 billion in American goods by increasing current tariffs on American agriculture and re-imposing tariffs on other goods such as cars and trucks.

From CNBC:

The Chinese State Council said it decided to slap tariffs ranging from 5% to 10% on $75 billion U.S. goods in two batches effective on Sept. 1 and Dec. 15. Those dates happens to be when President Donald Trump's latest tariffs on Chinese goods are to take effect.

It also said a 25% tariff will be imposed on U.S. cars and a 5% on auto parts and components, which will go into effect on Dec.15. China had paused these tariffs in April. [...]

"In response to the measures by the U.S., China was forced to take countermeasures," the state council said in a statement.

Trump loaded up his diaper in response to the news this morning and unleashed a series of tweets that tanked the market even further.


I'm sure I don't have to tell you this, but Trump does not have the power to "hereby order" American companies to do anything at all.

Trump is an unhinged ignoramus and he's literally going to tweet us into a recession. The market dropped by 300 points after China announced a fresh round of retaliation and by 500 points when Trump threw a temper tantrum.

Depending on what Trump does next, all of our expectations for how his trade war will effect the economy could be obsolete. And we don't know what he will do, but it's possible he'll impose all of his upcoming tariffs on September 1st rather than wait to impose half of them after the Christmas shopping season. There is no legal mechanism that would prevent him from doing that. We'll just have to wait and see how he plans to fuck us all.

I wasn't planning to write anything today, but I couldn't let this pass by. It's too big and important to everything we've discussed here.

  • Draxiar

    This hacked up hair-ball of a creature we call trump I hope spends the rest of his days in solitary confinement. No contact with the outside world, no phone, no calls, no outside time, no clothes, and only 10 cent ramen noodles for meals. The only thing he would have is a television that airs coverage of how truly loathsome the world finds him to be. Eventually he dies alone knowing he is hated by the world and history will remember him as a coward. That’s the best thing I can say about him.

  • muselet

    White House aides right now offering no explanation for why President Trump believes he can “hereby order” American companies to do anything.

    Donald Trump’s flacks usually chime in with some waffle about The President being able to do whatever he damn’ well pleases and everyone else must hop to or face charges of treason. Either they’re slipping or Trump really surprised them.

    I find neither explanation comforting.

    –alopecia

  • Aynwrong

    If Trump voters feel like they’re being judged (spoilers, they are) just wait until the price tag on everybody’s groceries goes through the roof or God forbid, mass layoffs begin.

    These people have damned their own nation while continuing to believe in their own superior patriotism.

    Here’s some more crazy nonsense that I wish somebody would put in an action flick. https://youtu.be/f6tXEtjiiXY

    Happy weekend everybody.

  • Nefercat

    {blinks} Uhhhh …

  • 1933john

    Here in Horse Drip, Texas (aka Trumpville),
    at the local bakery, the price of my weekly
    croissant increased 25% {$2 to $2.5).
    This makes me wonder if it has something
    to do with Trump being piss-off with
    French-indoCHINA!!