butt trumpers upset
China waived a 125% tariff on ethane imports from the U.S. on Tuesday, according to a report from Reuters.
Ethane joins a growing list of products that China has granted tariff exemptions for amid the ongoing trade war with Washington.
Last week, Chinese officials granted exemptions for pharmaceuticals, microchips and aircraft engines and were asking firms to identify critical goods they need levy-free
"I think that over time we will see that the Chinese tariffs are unsustainable for China," Bessent told reporters. "I've seen some very large numbers over the past few days that show if these numbers stay on, Chinese could lose 10 million jobs very quickly. And even if there is a drop in the tariffs that they could lose 5 million jobs."
China waived a 125% tariff on ethane imports from the U.S. on Tuesday, according to a report from Reuters.
Ethane joins a growing list of products that China has granted tariff exemptions for amid the ongoing trade war with Washington.
Last week, Chinese officials granted exemptions for pharmaceuticals, microchips and aircraft engines and were asking firms to identify critical goods they need levy-free
"I think that over time we will see that the Chinese tariffs are unsustainable for China," Bessent told reporters. "I've seen some very large numbers over the past few days that show if these numbers stay on, Chinese could lose 10 million jobs very quickly. And even if there is a drop in the tariffs that they could lose 5 million jobs."