Pay attention because I'm only doing this once. Yes, the threat is grim - 100% "tariffs on all Chinese goods above and beyond all existing tariffs in place." Starting November 1. Along with "export controls on any and all critical software." The threat (important word) is in response to China announcing this week that foreign entities must obtain a license in order to export any products containing more than 0.1 percent of rare earths that are either sourced in China or manufactured using the country’s extraction process. China controls 70 percent of the world’s refined rare metals and earths. Will this really cover everything? We don't know. Does this mean we are looking at 100% above and beyond 232, 232 derivatives and 301? We don't know. Will this actually happen? We don't know. But the worse case scenario is what we are all playing the game with right now. We have a few weeks to see if cooler heads prevail. But, hope is not a strategy. So do the math, sound the alarm and get ready in case this happens.
I hate that this development does not shock me.
Just a thought…what if every broker in the country took some days off, no entries. Would that get some attention that these shenanigans need to stop?
Pete Mento Let’s remember that all of these tariff actions are illegal under US law, and unless our The Supreme Court of the United States has folded its tent completely, will be so declared in due course.
“Stupidity is better kept a secret than displayed”. Heraclitus
China is soft-invading Africa to expand its control over world minerals. Europe and the US are finding it hard to react because of their colonial past. China has no such qualms about creating neocolonial vassals, as it has been doing this for thousands of years.
I just need to stop looking at anything online on Fridays.
Where was this concern when FBI Director Jim Comey called China's mass theft of our Intellectual Property a National Security Issue? https://www.cbsnews.com/video/preview-the-great-brain-robbery/
Compliance Manager, Customs & Trade Services at DSV - Global Transport and Logistics
6dI'm going to start taking Fridays off.....