I am enjoying this fight.
The new tariff matches the rate of the U.S. ‘reciprocal' tariff imposed by U.S. President Donald Trump this week.
The Commerce Ministry in Beijing also said in a notice that it will impose more export controls on rare earths, which are materials used in high-tech products such as computer chips and electric vehicle batteries.
China is putting all its chips on the table. Like Europe stupidly dismantling its gas and nuclear infrastructure to rely on Russian energy, the United States has a fraction of the manufacturing power that it did 40 years ago and China knows it.
While all the wokies were busy shutting down American mining and energy extraction, China has been busy becoming the juggernaut of such endeavors across Asia and Africa. I saw it firsthand in Ethiopia in 2018.
Still, China is insanely dependent on the rest of the world, particularly America, to fund its communist Ponzi schemes.
For fun, here's Nancy Pelosi sounding like Trump in 1996 as she explains how we sustain the Chinese economy (these numbers are much higher now):
She sounds like a right-wing extremist in 2025! 😂
We'll have to see what Trump decides to do after he eats his Wheaties this morning.
UPDATE: HE HAD HIS WHEATIES:
I have a feeling China is gonna regret this - but it's not too late for them to make it right!
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