TSF bet China would face 'tremendous difficulties' without U.S. consumers--Beijing just focused on the rest of the world
President Trump’s tariff offensive against China appears to be backfiring as Beijing sidesteps U.S. consumers and boosts exports elsewhere. Chinese shipments to the U.S. plunged 27% in September, but overall exports rose 8.3%—their highest total this year—driven by strong demand from Europe and other markets. The World Bank now expects China’s economy to grow 4.8% in 2025, while it downgraded U.S. growth to 1.4%. Despite Trump’s renewed threat of 100% tariffs, analysts at UBS and Deutsche Bank say both sides appear open to compromise, with markets betting negotiations will resume soon.
At the beginning of his tariff standoff with Beijing, President Trump was confident in his strong hand. China’s economy was reliant on U.S. consumers, he said, and so it would have to make some compromises or risk losing them.
“China has been hit much harder than the USA, not even close,” Trump wrote on Truth Social, the social media site he owns, in April. Later that month, he admitted that while American shoppers may have to cut back on Chinese-produced consumption, the White House’s tariff plan meant the Chinese government was “having tremendous difficulty because their factories are not doing business.”
Six months later and it seems Beijing has simply circumnavigated the U.S. by focusing on increasing its exports to the rest of the world. The diversification has been so successful that China’s export market is actually tracking significant growth despite the trade war.
https://finance.yahoo.com/news/trump-bet-china-face-tremendous-104848730.html
Stupid fuckhead
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