this post was submitted on 14 May 2024
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United States | News & Politics
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Janet Yellen
Joe Biden
make up your mind ghouls
This is basically a self imposed embargo that will ensure that we are outside observers to a world that is rapidly transitioning to renewable energy.
It will also be part of financial handouts to underperforming US tech companies
A tariff on imported goods to USA doesn't affect global market of other countries importing Chinese goods you absolute genius.
It reduces competition for Chinese goods, making them cheaper and more accessible to less rich countries.
All those cars and solar panels that Chinese companies counted on selling in the US must go somewhere. Every other country in the world (excluding the EU, although to a lesser extent than the US) isn't hell-bent on sanctioning China, their production will be just redirected elsewhere.
And since the US, biggest net importer in the world, just stopped... importing, there will be more goods sought after by less money, AKA more supply (old supply + goods that can't profitably be sold in the US anymore) but less demand (since the US just passed these new tariffs) and as you know, this is gonna make prices fall, maybe not a drastic fall but still.