The article discusses the implications of Donald Trump's tariffs and the struggles of the US in the global economy, particularly with China now wielding significant influence over international trade. After announcing steep tariffs, the US administration faces backlash as negotiations falter and US companies, especially in tech, suffer. Amidst rising tensions, China's refusal to engage and their strategic advantage in technology and manufacturing raise concerns about the US's economic position. As the situation develops, it remains unclear how the US will navigate its trade relationships moving forward.
"No one thinks the current status quo is sustainable" with tariff rates that high, Trump's Treasury Secretary Scott Bessent told JP Morgan bigwigs at a closed door meeting in DC earlier this week.
Beijing says it hasn't been in contact with the US at all - evidently content to watch as American businesses agonize in the wake of Trump's hystrionics.
Instead, China has reportedly considered whether to 'kneecap' US tech companies like Tesla, Apple, Qualcomm, and Intel, according to a CNN analysis.
China, meanwhile, seems well positioned to wait out the storm. It currently dominates the global electric vehicle market, has legions of manufacturing robots at its disposal.
Collection
[
|
...
]