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Chinese Tariff 100% Backfire On Them

In a bizarre act the Chinese tariff of 25% they impose on soybeans being imported into China ended up being paid by them, so they penalized himself and it totally backfire on them. A cargo ship that was caught in the middle of the trade war was finally allowed to dock in China and offload its cargo of soybeans. The company in China importing the soybeans had to pay its own government impose tariff that came out to about $6 million. This has now stack more problems against Chinese president Xi Jinping and his Communist Party. In fact this has become the joke of China and possibly the embarrassment of China by having to pay money on their own impose tariff. The Chinese cannot lock themselves out from soybean markets from the US, because other countries that sell soybeans do not sell the amount of quantity that the United States sells. China stupidity and imposing 25% tariff on a vital import such as soybeans could cost China massive hunger problems if shippers refused to pay the tariff. About a month ago China had to give up on its idea of imposing tariff on the imported oil from the US knowing they were going to be affected in a major way, see video for more.

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