Chinese government are already mocking the US that the US tariffs are no longer effective on their economy . The truth is that China have built their Economy to a point that if they stop doing business with the US it won't affect them. The US have already realized that China have built their economy to survive any Trade war and now the US government are now calling for Negotiations and have accepted to make a deal with the Chinese if they would accept for a negotiation. I believe the US are already feeling the heat from China retaliation and if it continues,it would cause more significant damage to her economy.
China's total annual exports are around $3.5 trillion, while exports to the United States were over $524 billion in 2022 , and that number has been declining over time. And according to the report: China's exports to the United States have fallen to nearly $400 billion by the fourth quarter of 2024. That means if China loses the world's largest consumer market, it will suffer significant damage, not be unaffected. But on the other hand, the US will also lose its largest supplier of goods at very affordable prices , and American consumers will suffer heavy losses. That's why people say no one wins in a trade war .
So far , I have not seen any official information saying that Trump wants to negotiate with China , both sides have declared their openness to accepting negotiations but neither side has made the first move .
There’s no cure from stupidity. Anything above 100% is meaningless lol.. he needs to consult a proper economist. He thought he would force other countries into negotiation, but China wasn't playing the game! I hope everything will be produced by USA now. I could imagine how expensive things are going to be. If you look at it, US labor is not cheap so good luck with that one. A lot of Americans are going to suffer. We mustn't forget USA was built on cheap and free labor...as the saying goes one hand can't clap...
At the end of the day, the people gets hurts! Not Trump nor the Chinese administrators. That's the harsh reality!
Theoretically speaking, such high tariff will create a new business: smuggling. Won't they?