Donald Trump has once again delayed implementing sweeping tariffs on China, announcing another 90-day pause just hours before the last agreement between the world’s two largest economies was due to expire.
On Monday, Trump signed an executive order extending the deadline for higher tariffs on China until 9 November, officials confirmed to Reuters.
Chinese officials said earlier in the day they hoped the United States would strive for “positive” trade outcomes on Monday, as the 90-day detente reached between the two countries in May was due to expire.
All these TACO memes are wearing pretty thin. Trump has instituted a minimum of 10% tariffs on all trading partners, with scant prospect of them ever lowering in the future even after his presidency (once tariffs go up, it’s very hard to bring them down because of the special interests that come to depend on them). He has strongarmed the EU, Japan, and other countries into accepting these permanently elevated tariff levels without retaliation. Only 3 countries have shown any sort of backbone against this: China, Canada, and Brazil (maybe India, but it’s too soon to say). In all the other cases, Trump ain’t the one chickening out, it’s the other side that abjectly folded.
(It doesn’t matter, by the way, if the Europeans intend to slow walk the investments and weapon purchases they promised to Trump, or whatever. That’s copium. The point is that they bent to Trump’s will, and once you cave to a bully, he’ll be back for more.)
Tariffs have been cut in the past. Nothing Trump does or can do, short of killing or maiming people, is permanent.
Why would countries retaliate against a sales tax on Americans?
Lesson not to vote right wingers Into EU parliament less chance accepting anything from this imbred redneck other is to remember he won’t respect his own deals.