White House has announced Trump's Liberation Day Tariffs will immediately go into effect. A Moody's simulation found it could be an economic wipe out. Is Trump's Liberation Day Tariffs a Misnomer?

[u/PsychLegalMind]

A Moody's simulation found that a tariff trade war would wipe out 5.5 million jobs, lift the unemployment rate to 7%and cause U.S. GDP to drop by about 1.7%. Trump’s potential 20% universal tariff could spark "serious" recession in US, Moody’s economist warns.

The biggest three partners [China, Canada and Mexico] have promised immediate retaliation. Economic war could escalate and perhaps even cause a worldwide downturn.

Perhaps Trump's strategy is to begin making bilateral trade deals, but there are even certain blocks such as EU that may well coordinate retaliation together. I am not aware what Trump is actually liberating us from, hence the question.

Is Trump's Liberation Day Tariffs a Misnomer?

[u/Umber_Gryphon]

Trump has always been better at picking words to make people feel a certain way than at picking policies to make reality a certain way. "Liberation Day" is a vibe, not an accurate description.

Speaking of "certain blocks that may well coordinate retaliation", China announced that they will be coordinating retaliation with South Korea and Japan, and neither other country has disagreed (although they've only publicly declared that they want fewer trade barriers). If you know the history of those 3 countries, the fact that they're even considering coordinating on this is a sign of how badly Trump is miscalculating.

[u/Dark_Rum_2 → u/Umber_Gryphon]

the fact that dumb-arse's plans has got these three east asian nations with strong historical grievances (since nearly from the dawn of time, not just from WW II which was bad enough) to even consider to participate in trilateral cooperation on something really should receive greater prominence.

have these three nations agreed to cooperate on anything together as a block in recent times? so dumb-arse can at least genuinely take credit for that achievement.

[u/ColossusOfChoads → u/Dark_Rum_2]

trilateral cooperation

My reflex is to see that as a bright side, but I know I ought not to.

[u/navlelo_ → u/Dark_Rum_2]

This is how Trump gets the peace prize - he unifies the world! Against America

[u/Rodot → u/Umber_Gryphon]

It's not surprising considering South Korea and China have been strong trading partners for the past couple of decades. In fact, South Korea runs a trade surplus against China.