derek doesn't trade, he'll just drop a few outdated news on here so he can shitpost in the politics section with impunity.
It's just knee-jerk reaction. Eventually they will all adapt. China's announcement is more bark than bite for show-off. Tomorrow is another day. NFP data is coming out.
China already bought older VIA chipsets and is in partnership with them. They've made functional but market-wise uncompetitive products already.
Wait till November 4, 2020. If President Donald Trump is re-elected, I see him tightening efforts to ensure compliance from China on the Phase 1 trade deal they signed with the US to remove some of those tariffs? So far, the US has given China leeway with the Corona Virus pandemic more time to buy more US goods. China will have to either ramp up and buy more semiconductor chips from the US or get tariffs re-imposed on most of their products. Let us see if the Chinese are stupid enough to roll the dice and crap out.