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As far as I know (am I mistaken?) the US reduced tariffs to 10% in return for China reducing tariffs to 10%, and reducing restrictions on the exports of rare ea
by graemep 1y ago
As far as I know (am I mistaken?) the US reduced tariffs to 10% in return for China reducing tariffs to 10%, and reducing restrictions on the exports of rare earths.
That sounds more like China backed down than the US did.
The EU is a lot weaker than China. China dominates critical areas of manufacturing, and does not have the level of dependence Europe (non-EU as well) has on the US - I hardly need remind people here of the dependence in IT systems.
- stubish 1y agoChina put retaliatory tariffs in place and placed restrictions on the exports of rare earths, calling the US bluff and forcing them to negotiate down to where things stand today.