April 11, 2025 - Epoch Times
01:19
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| Time | Text |
|---|---|
| A lot of the problems with China specifically have less to do with their direct tariff rates, for instance. | |
| But even European Union studies have found massive amounts of subsidization all throughout the supply chain that is benefiting Chinese manufacturers. | |
| The Chinese economy is roughly 15% of global GDP, but their manufacturing is roughly 30% of global GDP. | |
| There are industries where Chinese manufacturing comprises more than 100% of global demand. | |
| And the problem is that basically because they're not playing by those rules and there's just massive amounts of subsidization across their corporate sectors, which allow them to have industries which have in some cases as high, | |
| I've seen some industries as high as I believe 110, 120% of global demand. | |
| Forget Chinese demand. | |
| That's global demand. | |
| And so it's simply unsustainable. | |
| This is what is so baffling about the European position, for instance, is a lot of those products aren't competing with U.S. manufacturers directly, although they do harm U.S. corporate interests. | |
| They're competing significantly with Germany. |
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