I can’t see how a 54% tariff on China wouldn’t crash the US economy, and it would likely cause a global recession. Even if we start producing all the goods we consume, which is unlikely, it would take 3-5 years to set up those supply chains and China is our top supplier of goods. This is madness.
Reposted from
Aaron Rupar
COLLINS: China has this 34% tariff. There were already 20% tariffs on China. So is that 34% on top of that, meaning it's a 54% tariff on China?
BESSENT: I believe it is
BESSENT: I believe it is
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