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
      7·
      6 days ago

      The whole thing is a shit show…

      Like, they choose those two numbers intentionally so they’d cancel out, and then most likely said the one represents something else because those numbers never really mattered.

      They’re doing backwards math

      They start with the answer they want. And then backfill an equation to make it justify what they wanted and makes it look like it’s not their decision.

      • Z3k3@lemmy.worldEnglish
        2·
        6 days ago

        While making the calculation look complex enough that the unwashed masses won’t question it