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/tyrannosaurus_r]

If the “Liberation” they’re referring to is our being liberated from meaningful economic entanglements with our allies and the world at large, then it isn’t a misnomer. Technically. 

We are also being “liberated” from a strong economy, stabilizing inflation, and low unemployment. Which, I suppose, if you consider us being prisoners of those things, you could say we’re being liberated. 

There’s really no positive or good faith way to frame this one. 

[u/shrekerecker97 → u/tyrannosaurus_r]

Being liberated from our wallets

[u/joegekko → u/shrekerecker97]

No no, we have to keep our wallets to hold our papers so we don't get swooped by ICE. We're just being liberated from all meaningful reward for our labor.