And now we’re in a trade war:
“China said it would levy an additional 25 percent tariff on imports of 106 U.S. products including soybeans, automobiles, chemicals and aircraft, in response to proposed American duties on its high-tech goods.
Remember what we said yesterday about pork producers from Possum Hollar being targeted? Per Bloomberg data, biggest soybean producers include: Ohio, Iowa, Missouri, Indiana. I think we all know where US cars are made. But I interrupted, do continue:
“Matching the scale of proposed U.S. tariffs announced the previous day, the Ministry of Commerce in Beijing said the charges will apply to around $50 billion of U.S. imports. Officials signaled that the implementation of the proposed measures will depend on when the U.S. applies its own after a period of public consultation. …
“Beijing’s proposed targets strike at the core of commercial relations between the two countries, and at some of the most politically sensitive goods in core Trump constituencies.”
Indeed it does. China is being very strategic; Trump is not. So as we noted before, Possum Hollar is going to pay for protecting Hollywood’s IP.