I highly doubt that, the rest of the world buys stuff from a China like crazy as well. They should be able to send the stuff elsewhere instead quite easily. What you're saying sounds just like something the orange idiot would say.

[–] joekar1990@lemmy.world 18 points 4 months ago* (last edited 4 months ago) (1 children)

Gives pick me energy and it's the newest talking point and very annoying. Total exports as a percentage is 15% that china ships to the us.

A deficit doesn't make it a bad thing. It means we are more of a consumer economy to focus on higher level of jobs.

[–] Onomatopoeia@lemmy.cafe 0 points 4 months ago

Yes, the deficit means China has the greater risk. China pushing a tariff on the little they consume from the US means nothing, just because they buy so little.

Basic economics.

[–] Onomatopoeia@lemmy.cafe 0 points 4 months ago

Sure. But they sell a huge amount to the US. And this is about a trade deficit between US and China. This one hurt the US like it will China - US can buy similar goods elsewhere, while the rest of the world can't compensate for the loss of sales to the US - they're already purchasing what they need.

I mean this is basic economics, and you all act like China can magically come up with new customers.

The current effective tariff on Chinese goods is 104%, and that doesn't include the tariffs on countries through which China ships. Those tariffs put Xi in a no-win situation. He can't even afford the 34% Tariff for any length of time, because of the massive overproduction going on. They have manufacturing going to meet demand 6 months from now, to compensate for distribution time. All that stuff will now sit in China, where they don't have storage capacity for it.