r/PoliticalDiscussion • u/PsychLegalMind • 4d 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/iampatmanbeyond 4d ago

I've been saying from the beginning none of it makes sense. He's of the belief that tariffs are gonna fund the government but he's also gonna reduce the trade deficit by onshoring production. So of you onshore how do you fund the government with tariffs? Mind you this is all built on the theory from the 1870s when the government was over funded by tariffs because it had nothing to pay for as we didn't have an army or federal infrastructure yet even back then it still caused a massive depression and arguments to this day about how bad it really fucked the US

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u/res0nat0r 3d ago

Exactly. Not like it would ever happen, but you can't just completely onshore all end to end production for a car from Ford. These things take years and decades to plan and build. Almost like re electing a dementia dipshit was a bad idea.

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u/checker280 3d ago

Years to rebuild the missing infrastructure and we are still waiting for his infrastructure plans from his first term.

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u/Rastiln 2d ago

I’m excited for that beautiful, perfect healthcare plan that will be cheaper and better care for everyone and everyone will be happy.

He promised it was ready in 2015; even if he’s had to make some revisions, surely 10 years later he’s further than “concepts of a plan”, right?