r/worldnews • u/Significant-Colour • 1d ago

China strikes back at Trump with 34 percent tariff — bans rare earth exports to the U.S.

https://www.tomshardware.com/tech-industry/china-strikes-back-on-trump-tariffs-bans-rare-earth-exports-to-the-u-s
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228

u/snotparty 1d ago

"China is panicking!!" uh... I dont think they are?

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u/zookytar 1d ago

To be fair, I think almost everyone is panicking. Most Chinese exporters are probably having a cow. The Chinese government might not be panicking because they are being handed a huge opportunity.

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u/superduperpuppy 1d ago

I think OP is referring to Trump's claim that China is "panicking". But in fact, China already told Trump months ago that this is what they'd do if he pulled the trigger on tarrifs.

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u/bigredone15 1d ago

Most Chinese exporters are probably having a cow.

This is not to be overlooked. The Chinese government has not had to deal with significant economic hardship with their current middle class.

The ripples of these tarrifs through the Chinese economy could be tough. Especially if the administration is able to work out deals with other key trading partners like Vietnam, India, etc.

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u/wildwildwumbo 1d ago

"the Chinese government has not had to deal with economic hardship" very weird and ahistorical position to take.

Do you think China was immune to the global recession in 2008? Or the economic consequences of Covid? 

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u/uniyk 1d ago

China's export and growth peaked in 2021, which was also the year Xi got cocky and Biden hit back hard later. It's after covid that China lost control of a lot, especially confidence in its own people and abroad. 

But now everything looks different.

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u/AsherGray 1d ago

Yeah, Trump has provided a lot of opportunity to China. Remember how China was uninvolved with Russia's invasion but now says it will assist with the EU in defending? Did you notice how with the dismantling of USAID, that China is there to help those countries?

The US has forfeited its place at the head of the superpowers to China.

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u/crackanape 1d ago

The Chinese government has not had to deal with significant economic hardship with their current middle class.

They sure as hell did, just three years ago.

2

u/KingofMadCows 1d ago

China has been building a bunch of factories in Vietnam over the last several years to circumvent the tariffs. India has tried to compete with China in manufacturing but their efforts have not been very successful. And now India is pretty much letting Chinese companies set up in their country.

If the US makes any deals with trading partners in Asia, China will get a taste.

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u/Radiant-Bit-7722 1d ago

Coué method: self-persuasion.

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u/DrBix 1d ago

We wouldn't know if they WERE panicking.

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u/Iwantthe86 1d ago

Why do you say that? This is very clear a sign of panic from China.

You really have no idea just how much what the US is doing is going to hurt China in the long run.

If you're anyone from the West, you really don't understand how much all these economic changes are going to benefit you in the long term.

1

u/nicxyw 1d ago

Care to elaborate?