Summary
Donald Trump lashed out at China for retaliating against his new tariffs, calling the country the “biggest abuser” of U.S. trade.
After Trump imposed an additional 34% tariff on Chinese goods, China responded with its own 34% tariff on U.S. products and suspended key imports.
Financial markets in both countries plunged, with U.S. economists warning of a potential recession.
Despite backlash, Trump defended his strategy, urging the Fed to cut rates and calling the tariffs a path to long-term gain. Critics warn of global economic instability and rising protectionism.
Didn’t the fed cut rates way before COVID as well, and then after COVID they cut it way down to nothing?
That’s part of the reason for the housing crisis- in order to correct, when rates went way up, no one is giving up their (relatively) low payment, their actually low interest rates; even if they’re gonna spend all their gains on a new place they’ll still have to pay a large markup on whatever’s left over (if they can even find a place because inventory is like 1/4th what it normally is, mostly estate sales and poor condition, etc)