Donald Trump announced he will impose an additional 100% tariff on goods from China, on top of the 30% tariffs already in effect, starting November 1 or sooner. The threat is a massive escalation after months of a trade truce between the two nations.

Trump’s announcement is tied to Beijing ramping up export controls on its critical rare earths, which are needed to produce many electronics. As a result, Trump appeared to call off a meeting with Chinese President Xi Jinping that was scheduled for later this month in South Korea.

  • galoisghost@aussie.zone
    20·
    2 days ago

    I don’t understand what the scam is. Is it just buying the dip when he announced this and selling once he “chickens out” or is there something more complex that he’s being convinced to trigger?

    • BarbedDentalFloss@lemmy.dbzer0.com
      11·
      2 days ago

      The scam is you can’t time the market - unless you are the person who sways the market. So he lets his buddies know what he is about to do so they can buy puts as the market crashes then they buy calls when he reverses. He was on video bragging about how Charles Schwab made over a billion dollars in one day because he had insider information.

    • QuarterSwede@lemmy.world
      17·
      2 days ago

      Pretty sure that’s it honestly. Buy low, sell high(er) grift. He’s a simple man after all. A little too simple.