Live updates: S&P 500 soars 7% after Trump announces 90-day pause on tariffs, raises taxes on China
apnews.comFacing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, but raised his tax rate on Chinese imports to 125%.
Aight so, we have two huge economic powers in the world and one that’s lesser but still very big. The two huge powers are fighting each other to the death, destroying each others economies as well as their own. Lets go EU Century? 🙏
China is clearly going to win this part, they are not adding tariffs on the rest of the world like Trump is doing, they will win market shares because of this. Trump’s policies are actually speeding up the rise of China as the first power on many points: international free trade, renewable energies and brain drain, for example.
While that is true, I do think there is an opportunity for the EU to get a real economic and diplomatic boost by strengthen ties with the traditional western allies in the Pacific now that America is torching its bridges there. Whether or not it can manage to get all member states to agree quickly enough to actually take that opportunity is a different matter though…
The problem the EU has is that it sent a lot of its manufacturing jobs to Asia and the US so it’s sectors they won’t be able to capture, but it can hopefully overtake the US for the tech sector…
France, Greece, Spain, are pretty large economies in the EU, and are all growing. Spain and Greece fairly quickly growing. They have all really strengthen Chinese economic ties kinda hitching themselves to China.
All to say, I think the EU is more likely to lean China than US, and if there is disagreement it will put great strain on the EU as a whole.
Yeah, EU will get a boost from it too.
They just put 25% tarrifs on the US so I guess these are interesting times if nothing else.
But not a blanket tarrif, they just targeted some specific products.
there will be no winners. only survivors at best.
China has an entire globe for a market. Us Yanks rely on china as our main supplier for nearly everything, because ‘made in America’ prices are unrealistic to compete with
Even the Made In America stickers come from China lol
Great, we’ll end up with American refugees arriving in ductape boats on one coast and Chinese refugees in Temu boats on the other. Europe is going to get really crowded.
The duct tape is from China so I don’t think there will be that many boats
Take Canada with you, and do it before the USA and Russia figure out their joint plan of attack on us all.