Trump’s massive ‘reciprocal’ tariffs upend global trade | CNN Business
www.cnn.com
Despite rattled financial markets, threats of retaliation and some of President Donald Trump’s biggest supporters encouraging him to back off his signature economic policy, he didn’t give in. His administration piled on heaps of new “reciprocal” tariffs Wednesday on dozens of American allies and adversaries alike, aiming to — as he claims — restore fairness and boost American manufacturing.

Summary

Donald Trump imposed sweeping “reciprocal” tariffs on dozens of nations, including a 104% levy on Chinese goods, claiming to boost U.S. manufacturing.

These tariffs, calculated by dubious trade deficit formulas, hit major trading partners like the EU, Japan, and South Korea.

Economists warn of rising inflation, recession risks, and potential stagflation. JPMorgan estimates a 60% chance of global recession, while U.S. consumers may face $2,100 in added yearly costs.

Despite retaliation threats, Trump refuses to back down. Businesses and allies express concern over economic damage and trade instability.

  • givesomefucks@lemmy.worldEnglish
    31·
    5 days ago

    The entire formula is junk, not just the one variable.

    Yep, and if you saw any of the interviews of the guy who figured it out, he makes that abundantly clear

    But that’s the policy side, and that can be debated.

    Math is math

    So even if they legitimately think this will work, they’re doing what they want to do wrong.

    Like if two people were arguing over if it was better to fly from NYC to Cali or drive. That’s debatable. If the person who wanted to drive then claimed gas would be free if they broke their fuel gauge so it always said “full” because then they’d never need to fill up…

    It stops being debatable which is “better” and starts becoming explaining facts