this post was submitted on 26 Nov 2024
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Summary

Trump’s proposed tariff hikes on Chinese imports, potentially reaching 60%, could accelerate China’s shift to alternative markets and offshore production.

Exporters in Yiwu, a hub for small goods, report declining U.S. sales and are increasingly targeting regions like Southeast Asia, the Middle East, and Africa.

Trump also plans to close tariff loopholes, such as the $800 duty-free exemption, which would heavily impact low-cost exporters and American consumers.

Many Chinese manufacturers are relocating production to countries like Vietnam and Mexico to evade tariffs, but further restrictions could disrupt these strategies.

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[–] CitricBase 30 points 17 hours ago (9 children)

Yep. A 10% tariff will mean that every other country has 10% more purchasing power compared to the US. It's basically shooting your own economy's competitiveness in the foot.

[–] [email protected] 26 points 17 hours ago (6 children)

It's not meant to make the US competitive, it's to make it isolated. Like I'm all for domestic manufacturing, but their goal here is to knock the US down a few pegs in every metric.

Yesterday I saw on Fox News someone saying that we could save $1t by eliminating the department of education... But nothing about how much it would cost us in competitive advantage against other countries.

[–] reddig33 6 points 14 hours ago (1 children)

“we could save $1t by eliminating the department of education”

[x] doubt

[–] whostosay 10 points 13 hours ago (1 children)

If we were spending that much on education, we wouldn't even be talking about this.

[–] Kvoth 1 points 11 hours ago (1 children)

Usually they say "save x amount" but neglect to say over what time period we would save it. 10 years is common but not universal. It's more about "sticker shock" than the actual truth

[–] whostosay 3 points 11 hours ago (1 children)

Even 100B/y would be shocking.

[–] douglasg14b 1 points 35 minutes ago* (last edited 34 minutes ago)

Why?

We should be spending an incredible amount on education. The entirety of our advancement as a species relies, fully, on our ability to train and educate our generations. A country's advantage on the global stage, it's ability to make good decisions, it's stability, quality of life....etc All hinge on education.

The "return on investment" is massive.

Just to mainain requires incredible effort, nevermind get better.

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