TikTok users in China jest about tariffs, suggesting patrons opt for name-brand goods like Nike directly instead
We're diving into a hot topic in the world of trade politics - the ongoing brouhaha between the US and China and Trump's efforts to manipulate the market with his tariff policies.
In the realm of social media, Chinese TikTok users have been promoting videos that encourage folks to buy fashion items directly from Chinese factories, bypassing US markets. The catch? These supposedly high-quality goods are available at jaw-droppingly low prices. Some even claim, "You won't believe the prices we give you if you just contact us and buy from us directly."
Alex Goldenberg, senior advisor at the Network Contagion Research Institute, suspects this is a calculated ploy to undermine Trump's tariff policy on China. Goldenberg argues that the campaign is aimed at making Chinese manufacturing seem cheaper, more desirable, and accessible - even in defiance of trade restrictions.
Yes, you read that right - it seems China is flexing its muscles by hiking tariffs on US imports to 125% in response to Trump hiking tariffs on Chinese goods up to 145%. Talk about a tit-for-tat showdown!
To add fuel to the fire, Trump has extended tariffs to other countries as well, with the White House implementing a baseline levy of 10% and "individualized reciprocal higher" tariffs on certain nations in early April. Despite this, Trump announced a 90-day pause on April 9, implementing a 10% levy on countries subject to the reciprocal tariffs that have not retaliated against the US.
The US-China trade war seems to be in a stalemate. The US demands structural trade reforms, while China seeks reciprocal concessions and prioritizes economic self-reliance amid tariff threats. Foreign diplomats describe the ongoing talks as tentative, with countries hesitant to formalize proposals without clearer US demands.
Stay tuned as we navigate the nitty-gritty of this trade kerfuffle. It's definitely not a snooze-fest!
- The ongoing US-China trade war is causing ripples in the global economy, making investing in personal-finance a challenging endeavor.
- Amidst the trade kerfuffle, the technology and fashion industries are seeing disruptions, with Chinese TikTok users promoting affordable assets directly from factories.
- The escalating tariffs between the two superpowers, such as the 125% tariffs on US imports by China and 145% tariffs on Chinese goods by Trump, are posing threats to several businesses.
- In the general-news sphere, the business community is closely monitoring the tentative US-China trade talks, with foreign diplomats hesitant to propose formalized agreements without clarity on US demands.
- Social-media platforms like TikTok are being leveraged by China to promote cheaper Chinese manufacturing, seemingly as part of a calculated ploy to undermine tariff policies.
- In a tit-for-tat showdown, Trump has expanded tariffs beyond China to other countries, causing a stir in the finance and industry sectors.
- The trade war is also having far-reaching effects, with US Treasury Secretary Scott Bessent predicting that employment pressures and tariffs could cost China 5-10 million jobs.
- In the realm of entertainment, late-night hosts have been cracking jokes about the US-China trade war, adding a humorous spin to an otherwise stressful situation.
- Crime-and-justice analysts are debating the potential for increased cybercrimes in the wake of the trade war, as both nations could resort to digital sabotage to weaken their adversaries.
- The sporting world is keeping a watchful eye on the trade war, as sponsorship deals between US and Chinese brands may become more complex and volatile.
