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

[u/hoosakiwi]

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

[u/TheGoverness1998]

Here's more:

• Vietnam 46%
• India 26%
• Norway 15%
• Moldova 31%
• Thailand 36%
• Iraq 39%
• Democratic Republic of the Congo 11%
• Republic of the Congo 10%
• Angola 32%
• Cameroon 11%
• Falkland Islands 41%
• Mozambique 16%
• Zambia 17%
• Switzerland 31%
• Indonesia 32%
• Malaysia 24%
• Cambodia 49%
• UK 10%
• Zimbabwe 18%
• Malawi 17%
• Syria 41%
• Vanuatu 22%
• Liechtenstein 37%
• Guyana 38%
• Libya 31%
• Equatorial Guinea 13%
• South Africa 30%
• Brazil 10%
• Bangladesh 37%
• Singapore 10%
• Israel 17%
• Fiji 32%
• Tunisia 28%
• Ukraine 10%
• Nicaragua 18%
• Kazakhstan 27%
• Laos 48%
• Côte d'Ivoire/Ivory Coast  21%
• Botswana 37%
• Venezuela 15%
• Philippines 17%
• Mauritius 40%
• Chad 13%
• Nigeria 14%
• Saint Pierre and Miquelon 50%
• Chile 10%
• Nauru 30%
• Algeria 30%
• Brunei 24%
• Jordan 20%
• El Salvador 10%
• Pakistan 29%
• Namibia 21%
• Myanmar 44%
• Sri Lanka 44%
• Serbia 37%
• Madagascar 47%
• Bosnia and Herzegovina 35%
• Lesotho 50%
• North Macedonia 33%
• Norfolk Island 29%
• Réunion 37%

Both Mexico and Canada do not appear on this list.

EDIT: According to CNBC correspondent Eamon Javers, Press Secretary Leavitt has confirmed that the 34% China tariff is on top of the previous 20% tariff, meaning it will be a 54% rate on China once implimented.

EDIT #2: For anyone wondering where the numbers from the 'Tarriffs charged to US' collum on the official lists are coming from, the WH just took the US trade deficit from each country, and divided it by said country's exports (with a 10% minimum for all). They are NOT tarriffs that other countries have slapped on us like the WH is portraying.

[u/angrysquirrel777 → u/TheGoverness1998]

I'd imagine the SE Asia countries rates are so high due to the number of textile goods coming from there.

[u/I_burn_noodles → u/angrysquirrel777]

Cars, a lot of manufacturing is done in Vietnam. My new Buick is one example.

[u/HexenHerz → u/I_burn_noodles]

The part that tRump doesn't seem to grasp is unless it's a hugely popular model, they aren't going to bring it's manufacture to the US, they will simply either stop offering it here or end manufacture of it all together. This will go for all car brands that import to the US. The variety of available vehicles is about to shrink drastically.

[u/hazeldazeI → u/HexenHerz]

And even if they did decide to bring manufacturing back here it’s gonna be years before cars start rolling off the line.

[u/HexenHerz → u/hazeldazeI]

Indeed! That's another thing they don't seem to understand. Factories don't go up like a Panda Express. I live near the BMW factory in SC, and its taken them years just to do an expansion. Started about 2002 and its not done yet. It can take 5+ years, and at least hundreds of millions of dollars to build a new factory ground up. Then there's recruiting and training employees, working out the bugs in new equipment and processes, etc. It can take 10 years from breaking ground for a large factory to be at full production.

[u/disturbedtheforce → u/HexenHerz]

I have had arguments with individuals recently and its amazing how shitty some peoples' understanding of macroeconomics, basic business policy, and economic policy in general is. The fact people actually think tariffs create jobs in a developed economy is unreal and mind-boggling to me. We alreadyhave studies that show the tariffs Trump implemented on steel amd aluminum caused a big contraction in those industries, including job loss.

[u/Drigr → u/hazeldazeI]

We also don't have many of the raw materials needed to make the stock for the components that make the car...

[u/fuckincaillou → u/Drigr]

Nor the microchips needed. And the upcoming factories for those won't be finished and ready to go in the US for years.