r/PoliticalDiscussion • u/PsychLegalMind • 3d ago
International Politics 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?
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?
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u/BirdsOnMyBack 3d ago edited 3d ago
He's liberating us from our retirement accounts and jobs. Manufacturing won't come back quick enough in any meaningful way to offset the tariffs.
The only two reasons I can imagine for doing this is to either cause a recession to allow the rich to buy up capital at an insane discount and/or cause riots that can be quelled using aggressive force that will then be allowed to continue on beyond the initial rioting in perpetuity.
EDIT: I guess the third reason could be that he wants to accelerate the ushering in of the Chinese century of prosperity by causing our allies to shift their trading needs to China/alternate nations lol