Already said when tariff is 34% to 34% is no use, 50% to 50% is just following others, must be from 50% jump to 100% to show the leading power. May be Donald Trump heard of such voices so he switched the tariff to 245%, but not at a flat rate. From the attachments we can see syringes are highest and children book are at 0%.
China at once announced to ban the important of Boeing planes and parts. This means when they need parts, they have to dismantle from the flying planes after inventory is used up, anyway not today, don’t worry!
US has forced all other 75 countries that are talking with them to abandon China, and can only choose one but not both. For example in Vietnam, they should not allow China to use their finished products and just have package in Vietnam and make origin laundering as Made in Vietnam. But the problem lies in banning Chinese merchants to open factory in Vietnam and transferring raw materials from China to manufacture in Vietnam, there will be a lot of grey area. Which part is legal, which action is considered as trade fraudulence, how many percentage should be accepted, it takes time to negotiate.
Of course China also wants to sell their C919 passenger planes to South East Asian countries and high speed rail as well, but for the time being no such transactions were heard, only heard of Vietnam purchased 200 Boeing planes. Thus we can see the tariff war is not just limited between China and US, but at least to the 75 countries that are having trade talks with US. This will be a 360 degree comprehensive trade war, not just linking up with every major economies of the world, even those in Antarctic Circle, in those island countries only have penguins and few human being can be found are also involved. This trade war should be a world record, covering even penguins and icebergs.
How long will it lasts? Quite hard to say. Anyway won’t be too long, for what is coming is inflation, stagflation, unemployment, factory collapse, currency war, stock market crash…… hopefully by the end of 90 days period of negotiation can see lights from the end of the tunnel.