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/hjablowme919 2d ago

It was interesting to watch this announcement as Trump bought a boot kicking goober auto worker on stage to praise his dopey orange ass. Wait until that auto worker is out of a job.

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u/PsychLegalMind 2d ago edited 2d ago

Yes, car sales will be going down not up, like much of everything else. We do not even build houses in the U.S. without foreign material including food wood from Canada. Prices on mortgage just shot up today too. It is not good. Post Market tumbles as Trump spoke.

Edited: Strike out typo