The president just keeps introducing more chaos.
Archived version: https://archive.is/newest/https://gizmodo.com/trump-threatens-104-tariffs-on-china-as-the-mad-king-plays-chicken-with-the-global-economy-2000585944
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Yes. The US is the largest global consumer.
Basically the US says to China “we’re not buying your stuff anymore!” and China is like “Ok, I guess we’ll sell it to someone else. Best of luck to you. Don’t let the door hit you in the butt on your way out.”
China is still selling to US, they don’t care since they are not the ones paying the tax. In reality what is happening is Trump Threatens 104% “GST” tax (tariffs) increase on American for buying imports from China. China is not paying the tax, americans are.
This tariff thing was just a way for trump to tax americans more while making it look like he is not, most people see tariff on china thinking it is china being attacked. lol. It is actually tax on Americans, the money collected from tariffs is tax paid on goods by Americans.