US President Donald Trump has threatened China with a 104 per cent tariff, if Beijing doesn’t drop its 34 per cent tariff on US goods.
President Trump announced the plan on social media, as stock markets across the world continued to plummet.
What’s next?
Beijing has not yet commented on the president’s threat.
in fact, it is americans that buy cheap china goods and mark them up in price substantially, rebrand to sell to Americans, they lose their profits now. which will be taken by US government instead through tariffs tax.
Exactly every single small business depends on cheap Chinese goods to keep going day-to-day