Well, howdy there, Internet people, it's Bell again. So today, we're going to talk about China

calling Trump's policies a joke and a trade breakdown. While most people in the U.S. were sleeping,

China responded to Trump's response to China's response to Trump's tariffs. Yeah, things are going great. China raised its

tariffs to 125%. This effectively destroys the market for U.S. imports in the country.

The destruction of the demand for U.S. products was acknowledged by the finance ministry there

in a statement that said, quote,

with tariff rates at the current level, there is no longer a market for U.S. goods imported into

China. If the U.S. government continues to increase tariffs on China, Beijing will ignore it.

This basically says the tariffs they have placed are already so high that they won't be

responding to any increase by Trump again.

They also called the president's economic policies a joke.

Quote, even if the U.S. continues to impose higher tariffs, it will no longer make economic sense and will

become a joke in the history of world economy. So, that's the news. And now, we're going to talk about

a very common misconception. The idea is that China absolutely needs the U.S. market. This isn't 20 years ago.

Chinese exports to the U.S. are only about 3% of their GDP, and if the U.S. market completely

close to them, they wouldn't lose 3%. They'd be able to offload a lot of those products elsewhere.

Through a number of different avenues, China has publicly indicated it will continue to fight in the trade war. Even if they've

decided to ignore future tariff hikes, they could use non-tariff trade barriers, which seems like

their likely strategy. It's also worth noting that them unilaterally

stopping escalation on the tariff hikes gives Trump a method of walking away from his trade war

without looking like he lost to foreign countries and the bond market. China didn't raise their

tariffs as high as Trump did. The numbers have

...