Tariff war escalation just like in Ukraine under Biden

[syed putra]

China denounces as ‘blackmail’ Trump’s threat to ratchet tariffs higher​

Reuters
-08 Apr 2025, 10:31 AM

The commerce ministry warns it will fight to the end if the US slaps a further 50% levy on its goods.​

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Donald Trump threatened to impose a 50% duty on US imports from China unless Beijing withdraws its 34% tariffs on US products. (AP pic)


BEIJING: China decried as “blackmail” on Tuesday US President Donald Trump’s threat to add a further tariff of 50% on its goods, after he demanded that Beijing withdraw its plans for counter-tariffs.


If neither side blinks and Trump sticks to his plans, total new levies could climb to 104% this year on Chinese goods imported into the US, escalating a trade war that has already spurred the biggest market losses since the pandemic.

 

[k1976]

The need to start election soon??

Experts now recommend a 12-month emergency fund. Here’s how to quickly save thousands in cash.​

Economists worry a recession will start in the next few months. There’s still time to beef up your emergency fund by thousands of dollars with these aggressive — but temporary — changes.​

By


Venessa Wong
Follow

Published: April 12, 2025 at 10:00 a.m. ET

As economic uncertainty rises, some financial planners suggest bumping up emergency savings to cover 12 months of necessary expenses — and to do it quickly.PHOTO: MARKETWATCH PHOTO ILLUSTRATION/ISTOCKPHOTO


Many personal-finance experts were already warning that a cash emergency-savings account covering three months of necessary expenses in case of unemployment was likely too little for today’s job market — recommending a six-month buffer instead.

Now, as President Donald Trump’s tariff plans increase economists’ expectations of a recession and sent stock indexes dipping into bear-market territory last week, some financial planners are suggesting bumping up those savings to cover a whopping 12 months of necessary expenses, and say it needs to happen quickly — especially if you are in an industry or occupation that has few job openings or are the sole earner in your household.


Moody’s Analytics Chief Economist Mark Zandi put the chance of a recession at 60% even after Trump announced a 90-day pause on “reciprocal” tariffs for dozens of countries. The markets rebounded briefly this week, but if the president doesn’t change course on tariffs in the next four to six weeks, “we’re done,” Zandi told MarketWatch. “I suspect by June, we will see job loss.”

 

[k1976]

Goldman Sachs, meanwhile, sees a 45% probability of a recession.

Even after the pandemic-induced downturn in 2020, “markets bounced back, and things were a little bit more clear in terms of what was going to happen within a couple of months,” said Michael Scarpati, chief executive of financial-planning platform RetireUS. “This is just, every day, ‘What’s going to happen?’”


He noted that it is taking, on average, nearly six months for unemployed people to find jobs. Having cash is especially preferable during periods of market volatility like we are experiencing now, he said, and tariffs will likely lead to cost-of-living spikes that will be easier for households to manage with bigger savings. “Twelve months [of savings] is very wise, if you can do it,” Scarpati told MarketWatch.

Cat Irby Arnold, the Washington state market leader at U.S. Bank, also recently told MarketWatch that a one-year emergency fund is “ideal.”

And personal-finance host and author Ramit Sethi recommended building a 12-month emergency fund in a social-media video last week, an “extreme” recommendation that he also made during COVID-19.

“Start cutting discretionary spending now, before the world forces you to. That’s how you protect yourself and position yourself to be ahead when things stabilize,” Sethi wrote in his newsletter.

 

[k1976]

Yet this advice is aspirational for the average American. In a May 2024 survey by Bankrate, just 28% of people had at least six months’ worth of expenses saved; 16% had between three and five months’ worth of expenses saved; 29% had less than three months’ worth saved; and 27% had no emergency savings at all.

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Saving enough to live on for an entire year is never easy, especially for low- and middle-income households. People who are worried about losing their jobs soon may worry they do not have enough time to get their savings in order. But “people can change their lifestyle because their priorities have changed” and understand that it is only temporary, Spenser Liszt, a financial planner with Motif Planning, told MarketWatch.

If you’re in the “better safe than sorry” camp and are ready to make some serious — but temporary — budget cuts, here are some tips from personal-finance experts on how to add thousands of dollars to your emergency fund in the near term, as well as estimates of how much you could hope to save. When possible, the figures provided are the averages for households with kids.

 

[myfoot123]

Donald Trump already chickened out and exempted all manufactured chips and iphone make in China from tariffs. He is last seen, still praising Xi as his good friend, a capable leader. It is interesting to see someone losing steam now.

 

[syed putra]

Donald Trump already chickened out and exempted all manufactured chips and iphone make in China from tariffs. He is last seen, still praising Xi as his good friend, a capable leader. It is interesting to see someone losing steam now.

70-80% of Costco or Walmart non food products are from China. From tools to toys.
Both these supermarkets will have to shut due to tariffs.

 

[myfoot123]

70-80% of Costco or Walmart non food products are from China. From tools to toys.
Both these supermarkets will have to shut due to tariffs.

Instead of Wallmart, consumers can now buy directly from "black market" or 3rd party (outside China) to avoid tariff.

 

[k1976]

Donald Trump already chickened out and exempted all manufactured chips and iphone make in China from tariffs. He is last seen, still praising Xi as his good friend, a capable leader. It is interesting to see someone losing steam now.

Beekok is going to be a Lao Hong Balloon that trigger the mad currency war that is happening now

 

[k1976]

Get ready for Beekok Shit hit the fan moment
满无飞糞coming

 

[Rogue Trader]

China has to take its foot off the pedal soon. Crashing the US financial system will mean forcing them into a corner. And the dog will bite

 

[k1976]

China has to take its foot off the pedal soon. Crashing the US financial system will mean forcing them into a corner. And the dog will bite

Beekok already Lao hong Liao…run for the hill

 

[k1976]

Instead of Wallmart, consumers can now buy directly from "black market" or 3rd party (outside China) to avoid tariff.

Aka 代购

 

[Eisenhut]

Actually china has no cards. China needs international consumer. And biggest is USA and the other blocs are bending over to USA

 

[syed putra]

Actually china has no cards. China needs international consumer. And biggest is USA and the other blocs are bending over to USA

US accounts for only 20% of china trade. The biggest is ASEAN. Second EU.

 

[myfoot123]

Aka 代购

Yes, Very lucrative business for 3rd party sellers. America consumers will still have to pay, but much lower than 124%, even 10% commision will make you rich.

 

[face the facts]

what is there to 'fight'?.... just leave each other alone, the world will be a more peaceful place......

 

[syed putra]

what is there to 'fight'?.... just leave each other alone, the world will be a more peaceful place......

US is the rogue state.

 

[face the facts]

printing counterfeit money to con other nations since the 1970s

 

[Eisenhut]

what is there to 'fight'?.... just leave each other alone, the world will be a more peaceful place......

The problem is USA doesn't want leave China alone, scared USA become no more no.1

 

[syed putra]

The problem is USA doesn't want leave China alone, scared USA become no more no.1

It is not just china. It includes Russia, EU, Arabs. And ASEAN if we get our coordination right.