Trump gives China one day to end retaliations or face extra 50% tariffs
Trump gives China one day to end retaliations or face extra 50% tariffs
Tech companies' worst nightmare ahead of Donald Trump's election has already come true, as the US and China are now fully engaged in a tit-for-tat trade war, where China claims it expects to be better positioned to withstand US blows long-term.
What does China need from the US anyway
Americans need to sell those beans as much as the Chinese need to buy them
I'd argue that the need to sell is greater. Not only is the product perishable, but often times farmers are leveraged at the beginning of the season and then pay off that yearly debt once the product sells. Now, the season hasn't started yet, but that doesn't mean loans haven't been taken out and money already spent. If this doesn't get wrapped up by Sep/Oct, we'll see plenty of folks/corporations literally losing the farm.
Access to the largest market in the world. Its the reason everyone is still trying to get the tariffs taken off. America consumes a shit ton and people want access to that.
China was smart by creating their own versions of all the services the US offers.
The only reason the US is the nation that holds the most purchasing power in the world (20% of global purchasing power) is because it's a net exporter of services and much of the world respects its intellectual property.
The minute people start wiping their asses with US IP, it's game over.
Why can't there be a EU/Canadian/South American etc version of Uber, Netflix, YouTube, App stores, Visa etc? Even if the world moves away from their services just on the basis of principle, it will have an enormous impact.
