Trump floats cutting China tariffs to 80% ahead of meeting as he looks to deescalate trade war
Justin @ jlh @lemmy.jlh.name Posts 5Comments 1,663Joined 2 yr. ago
Justin @ jlh @lemmy.jlh.name
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Some industries are saying they are completely unviable around 40-60%. See the recent Gamers Nexus video about the computer hardware industry.
Some companies can survive 10-30% by cutting margins and passing to the consumer, but there are entire classes of product where demand will just evaporate if you raise prices 20-30%, especially budget and value products.
It's impossible to reshore manufacturing to stop this too. Every single economist is saying that there is a 0% chance that the way Trump has weaponized tariffs will cause any meaningful production in the US. The only outcome from this is empty shelves and stagflation.