Subnostr

Ricemoon 1y ago

Biden imposed a series of tariffs on goods made in China:

25% on steel and aluminum

50% on semiconductors

100% on EVs

50% on solar panels

Biden (Godfather of Bidenomics) says: "China is determined to dominate these industries.

I'm determined to ensure America leads the world in them."

Reality today looks like this (global market share):

Steel: China 54% share vs US 4.3%

Aluminum: China 55% share vs US 1.5%

EVs: China 60% share vs US 8%

Solar panels: China 78% share vs US 2%

Semiconductors: China 7% share vs US 48%

Except in semiconductors, the US has about zero chance to "lead the world" in any of those industries given China already completely dominates them. And it's certainly not with tariffs that they'll catch up.

(Thanks to Arnaud Bertrand on X)

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Discussion

nami 1y ago

So free trade is dead. Free markets also. It is also oxymoron that USA imposed tariffs and the communist party of China wants free trade. The world has come upside down and liberal economists were so much wrong

Ricemoon 1y ago

You're 100% right. Usually these measures, tariffs, sanctions etc. anyway kick you in your own "behind" sooner or later.

We have to stick with the economists who aren't on the payroll of the elites.

nami 1y ago

They don't kick you as much as free trade at all costs though.

It's not only the payrolls. It's beliefs also. Aim should be to the blue collars, not the middle class or higher...

The Beave 1y ago

I'm seriously pissed about the solar panel tariff.

That's a move to prevent people from slowly weening themselves off the power monopoly. (Thanks again, Edison. 🙄)

Ricemoon 1y ago

As you might remember they already did something similar 12 years ago... They can't even come up with new ideas... 😬

And I think you're 100% right about the "preventing people weening off the power monopoly".

https://www.reuters.com/article/idUSBRE84G19U/

The Beave 1y ago

No. I wasn't paying much attention at that time.

nami 1y ago

Yes they did that because at the time the German companies were the big producer of solar panels. It was back then when several renewable energy projects began also. But they failed anyway.

The Beave 1y ago

Of course they did.