r/news • u/johnk317 • 1d ago

China to impose 34% retaliatory tariff on all goods imported from the U.S.

https://www.cnbc.com/2025/04/04/china-to-impose-34percent-retaliatory-tariff-on-all-goods-imported-from-the-us.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
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u/no_more_mistake 1d ago

I'm not an economist, but a 10% retaliation on soybean tariffs in his first term prompted a $20B bailout subsidy for farmers. This most recent retaliation would require something... much more.

The price of soybeans dropped roughly 40 percent since 2022, partly because Trump’s first (much more limited than today's) trade war reshaped the global market, and Brazil and Argentina became sources in direct competition to the U.S. We won't be exporting as much because of that, too.

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u/DrothReloaded 1d ago

Farmer bailout will be required or many will go under. We live in the dumbest of timelines.

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u/Aazadan 6h ago

As someone who doesn't want to starve, I'm pro farmer bailouts. As someone who hates Trump, I kind of want to see us all starve because no one can afford food and the economy goes to shit. Of course I know that even if Trump were overthrown from that, there's no easy fix. It's not like tariffs can just be lowered after the fact to go back to how it used to be. You've got to convince those other nations to buy from you.