Trump threatens China with 100% tariff.

[DetlefK]

https://www.theguardian.com/business/2024/dec/01/trump-threat-100-per-cent-tariffs-brics-nations-dollar

Writing on his social media platform, Truth Social, on Saturday, Trump declared that he would also act if they supported another currency to replace the dollar.

“We require a commitment from these countries that they will neither create a new Brics currency nor back any other currency to replace the mighty US dollar or they will face 100% tariffs and should expect to say goodbye to selling into the wonderful US economy,” Trump said.

...

The Brics group was originally made up of Brazil, Russia, India, China and South Africa and has been joined by Egypt, the United Arab Emirates, Ethiopia and Iran.

Some Brics members have shown interest in de-dollarising the world economy. In October, Vladimir Putin called for an alternative international payments system that could prevent the US from using the dollar as a political weapon. Others, though, fear the consequences of severing relations with the US and other western countries by breaking away from the dollar, which underpins world finance.

A 100% tariff at the US border, if implemented, would drive up sharply the cost of goods from Brics members, fuelling US inflation and destabilising global trade flows.

[Initech]

1. God damn him to hell.

[dalton99a]

2. Walmart shoppers will rejoice

[marble falls]

3. Correction: "Orange Menace Threatens to Kill US Retail Industry With Tariffs, Asks: Who Needs International Trade?"

[onecaliberal]

4. But but but who will think of the eggs?!?

[multigraincracker]

5. New currency that I will call Cryptotullipbulb.

[Buns_of_Fire]

6. i wonder what the exchange rate will be for cryptomusks. nt

[bucolic_frolic]

7. "wonderful US economy" won't be wonderful long

[Fish700]

8. I bought a $1500 gaming computer yesterday that I won't need for a year or two so I don't pay $4000 next Feb.

[MineralMan]

9. By the time you need it, it will be obsolete.

[Fish700]

13. Nah, the GPU is much better than the one I have now and I can play everything I need on it.

[Dan]

10. WOW, if they "?" Decided to not use the USD as the currency

What would that do for the dollar?

So long since I took Econ Macro…and International Finance.

[Autumn]

11. I'm sure China will be okay with a 100% tariff since they know how tariffs work. Unlike trump.

[NickB79]

12. That would put Dollar Tree and Dollar General stores out of business

And those serve as the foundation for most rural economies when it comes to shopping.

The Kwik Trip and Dollar Tree are the closest things we have to grocery stores in my small, very conservative town.

[Dem4life1234]

14. How does this benefit him?

Why is he doing this?

Why can't he just claim Biden's economy without messing it up?

Why is he KFC diet taking so long to do its work?

[Blue_Tires]

15. And what happens when Red China slaps us back with reciprocal tariffs??

Nobody ever asks Donnie that shit, do they?

[Blue_Tires]

16. I'd forgotten how much I've absolutely hated

Donnie announcing presidential policy through his fucking social media accounts👎