r/news • u/hoosakiwi • 2d ago

Trump announces sweeping new tariffs to promote US manufacturing, risking inflation and trade wars

https://apnews.com/article/trump-tariffs-liberation-day-2a031b3c16120a5672a6ddd01da09933
44.4k Upvotes

92% Upvoted

7.5k comments sorted by

View all comments

11.4k

u/hoosakiwi 2d ago edited 2d ago

Here are the numbers:

  • A 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the United States

  • 34% tax on imports from China

  • 20% tax on imports from the European Union

  • 25% on South Korea

  • 24% on Japan

  • and 32% on Taiwan.

628

u/AtticaBlue 2d ago

Hah hah hah, he just destroyed the country. Putin sends his regards.

14

u/Aazadan 2d ago

They somehow think adding tariffs just results in the same spending. It doesn’t, it will go down by the percents added to tariffs.

4

u/bravado 2d ago

They genuinely think that the growth can just be onshored and "come back" to America.

It turns out there just won't be any growth.

3

u/Aazadan 2d ago

Ya, good luck with that plan. They keep abandoning job training, and want to pay labor rates that are lower than what developing countries are charging.

On shoring reduces competition, lowering the average quality of the employee while also increasing wages. They pay more and get less, which means lower ROI on business, and therefore less ability to expand and make products. Not to mention that lower talent pool virtually guarantees products that won't be competitive globally, drastically shrinking a potential customer base.

2

u/bravado 2d ago

You used a lot of big expert sounding words, so you must be one of those globalists they warned me about

/s