Just when you thought markets might’ve topped, after seeing young girls take to Tik Tok to teach a new generation of imbeciles how to trade — the Gods blow cocaine into the faces of trade, by way of China.
You don’t need a suit and tie to trade.
— Ramp Capital (@RampCapitalLLC) February 5, 2020
China on Thursday announced that it will halve tariffs on hundreds of U.S. goods worth about $75 billion.
Tariffs on some U.S. goods will be cut from 10% to 5%, and from 5% to 2.5% on others, according to a statement from China’s Ministry of Finance. The adjustments will take effect from 1:01 p.m on Feb. 14, it said, without specifying which time zone it was referring to.
The cuts apply to about $75 billion worth of imports from the U.S. that was slapped with tariffs on Sept. 1, 2019, according to a separate statement on the ministry’s website. It was not immediately clear which products are covered.
The statement on the Ministry of Finance website said the move was made in order to “advance the healthy and stable development of China-U.S. trade. ”A separate article on the website noted the cut in tariffs was timed in conjunction with a U.S. decision in January to halve tariffs on Feb. 14 for $120 billion of Chinese goods from 15% to 7.5%.
China said that the next adjustment will depend on how Sino-U.S. trade ties evolve, adding it hopes to work with Washington to completely eliminate all tariff increases.
Not only did the democrats make a mockery of themselves with a failed impeachment gambit, fiasco in Iowa, now Trump is castrating them all by way of gargantuan stock market rallies and trade war wins.
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