China is no longer worth the trouble they're causing. The total hit to our economy right now, less than 0.5% of GDP will not be felt when we're running this close to capacity.
Our total exports to China are a mere $120 billion annually and they will now stop purchasing half of that amount.
Of course while they said they're imposing an "import tariff" on $60 billion of our goods, but this is really a warning line for businesses in China not to purchase these US goods as China's economy is almost entirely government controlled.
Our total imports from China were $540 billion in 2018 which our firms will need to resource. Taiwan-based Foxconn is ready and willing to relocate their plants assembling electronics.
The Chinese communist party has managed to unite the US with Chuck Shumer sending Trump a note to hang tough on China and not accept any trade agreement if it does not legally address theft of US property, disclosure of Chinese state subsidies and open China's market to US exporters.
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