The U.S. and China are copying each other, giving rise to memes and mockery
President Donald Trump wants to bring back American manufacturing in ways that would reshape the United States economy to look more like Chinaβs. The campaign, which has led to a rapidly escalating trade war with China, has given ample social media fodder to Chinese and American observers alike.
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Announcing a series of sweeping tariffs in a move dubbed βLiberation Day,β Trump said last week that it will lead factories to move production back to American shores, boosting the U.S. economy after βforeign leaders have stolen our jobs, foreign cheaters have ransacked our factories, and foreign scavengers have torn apart our once beautiful American dream.β
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In a Truth Social post Wednesday, Trump announced that he is raising tariffs on goods imported from China to 125%, up from the 104% that took effect the same day, due to βthe lack of respect that China has shown to the Worldβs Markets.β Higher targeted tariffs on other countries have been paused for 90 days, although the 10% baseline tariff will remain in place for all countries.
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Meme-makers and Chinese government officials have in recent days begun pointing out the irony of Trumpβs tariff-driven manufacturing pivot through AI-generated satire and political cartoons that have percolated online, with many American users boosting the jokes.
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Retirees 'stunned' as market turmoil over tariffs shrinks their 401(k)s
Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trumpβs escalation of tariffs.
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As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said the economic chaos was hitting too close to home.
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Some said they are pausing big-ticket purchases and reconsidering home renovations, while others said they fear their quality of life will be adversely affected by all the turmoil.
βIβm just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover,β said Paula, 68, a former occupational health professional in New Jersey who retired three years ago.
Paula, who spoke on the condition of anonymity because she feared retaliation for speaking out against Trump administration policies, said she was worried about what lies ahead.
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βWhat weβve been doing is trying to enjoy the time that we have, but you want to be able to make it last,β Paula said Friday. βI have no confidence here.β
Trump fulfilled his campaign promise this week to unleash sweeping tariffs, including on the United Statesβ largest trading partners, in a move that has sparked fears of a global trade war. The decision sent the stock market spinning. On Friday afternoon, the broad-based S&P 500 closed down 6%, the tech-heavy Nasdaq dropped 5.8%, and the Dow Jones Industrial Average fell more than 2,200 points, or about 5.5%.
The U.S. and China are copying each other, giving rise to memes and mockery